Ispat plans Rs 1,700 cr investment

Of the Rs1,700 crore, Rs120 crore would be spent on for mining of iron ore, coal, limestone, dolomite Rs1,100 for the coke oven plant and Rs.490 crore for a 110 MW captive power plant, Ispat Industries Executive Director(finance) Anil Sureka, told reporters on the sidelines of the it’s extraordinary general meeting here on Saturday.

The company plans to close its Qualified Institutional Placement (QIP) issue within a month from which it plans to raise less than Rs.500 crore, he added.

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