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Our Bureau

Mumbai , March 13

Tata Steel Ltd has informed the BSE that it has signed two external commercial borrowing agreements aggregating to 61.42 million.

The funds would be utilised to finance the import component of blast furnace H and sinter plant 4 as part of the ongoing expansion project in Jamshedpur.

Blast furnace H, which will produce 2.5 mt per annum of hot metal, has been contracted to Paul Wurth Italia and Larsen & Toubro for commissioning. Sinter plant 4 of 2.3 mt per annum capacity is contracted to Outokompu Technology GmbH, Germany, and Larsen & Toubro.

The ECA covered facilities were signed with Deutsche Bank Aktiengesellschaft, Frankfurt am Main as original lender. These facilities are insured by SACE S.p.A. of Italy and Euler HERMES Kreditversicherungs-Aktiengesellschaft of Germany. The loans have a repayment period of 10 years and an availability period of approximately three and two years, respectively.

More Stories on : Overseas Borrowings | Steel | Tata Steel Ltd

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