SAIL to raise Rs 5,000 cr

 Steel Authority of India plans to raise up to Rs 5,000 crore debt this fiscal by issuing secured non-convertible debentures or bonds in tranches to part-fund its capital expenditure.

"A sum of Rs 9,000 crore is planned to be spent during the current financial year 2014-15. In order to part finance this expenditure, your company plans to borrow about Rs 5,000 crore during the year," SAIL said in a notice to shareholders ahead of the company's annual general meeting .

The state-owned steel maker is in the midst of expanding its crude steel production capacity to 21.40 million tonnes per annum (mtpa) from 12.84 mtpa earlier with Rs 72,000 crore investment.

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