SBI Led Consortium Of Banks To Lend Funds To Electrosteel Steels
by Ahemad Shaikh
Electrosteel Steels Limited is planning to raise funds from State Bank of India-led lender group for its steel project in Jharkhand.
Besides SBI, the other bankers to the company are Bank of India, Bank of Baroda, Allahabad Bank and Central Bank of India. The lenders have exposure for a little over R 7,500 Cr.
Electrosteel Steels (ESL), promoted by the Electrosteel group of Kolkata, was incorporated in December 2006. ESL is setting up a 2.51 Mn tonnes per annum (MTPA) integrated steel & ductile iron pipe project (including Captive Power Plant [CPP] of 120 MW) at Bokaro.