JSW Steel investing Rs. 38bn in Ispat Industries

Submitted by Prema Kher on Tue, 01/18/2011 - 18:34
JSW Steel investing Rs. 38bn in Ispat Industries

The steel corporation had obtained almost 45% stakes in debt - pestered Ispat Industries for Rs. 21.57bn in December last year. JSW Steel is planning to infuse Rs. 38bn in Ispat Industries in the next 2-3 years, according to a report.

The steel company had acquired nearly 45% stake in debt-ridden Ispat Industries for Rs. 21.57bn during December previous year. JSW Steel Director has supposedly stated that there is liability to be redirect that is to be completed by September 2011.

On Monday JSW Steel stated that it set up to instill Rs 3,800 crore in the coming 2-3 years, in Ispat Industries. The nation's third biggest steel manufacturer JSW Steel had obtained almost 45 per cent bet in insolvent Ispat Industries for Rs 2,157 crore during December previous year.

When inquired regarding the company's venture policy in Ispat Industries, Jayant Aacharya JSW Steel Director (Commercial & Marketing) stated that it shall be approximately Rs 3,800 crore in the coming next 2-3 years.


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