SAIL to borrow Rs 5,000 cr in FY'10

Agencies
Posted: Friday, Jul 17, 2009 at 1412 hrs IST
Updated: Friday, Jul 17, 2009 at 1412 hrs IST

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New Delhi: State-owned SAIL said it would borrow Rs 5,000 crore this fiscal to partly fund its expansion plans.

"We will be borrowing to finance our capital expenditure of this fiscal. It could be through long term debt... we'll borrow at least 50 per cent of our capex of about 10,000 crore," SAIL Chairman S K Roongta said in New Delhi.

The company, which had earlier this month slashed prices of its products by up to Rs 2,000 a tonne, said it may remain steady.

"The prices are looking stable," he said.

When asked if the company is considering FPO to raise funds, he declined to comment.

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