Financial Daily from THE HINDU group of publications
Tuesday, Apr 12, 2005
Financial Daily from THE HINDU group of publications Tuesday, Apr 12, 2005 |
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Corporate
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Restructuring Sujana Metal submits debt recast plan to IDBI Our Bureau
Hyderabad , April 11 SUJANA Metal Products Ltd has submitted a debt-restructuring proposal to Industrial Development Bank of India Ltd (IDBI). The proposal is for reduction in interest rates and restructuring of term loan liabilities. If approved by IDBI, the company expects to generate improved cash surpluses enabling it to leverage its balance sheet for accelerated growth, Sujana Metal informed the stock exchanges. The company currently operates two divisions — rolling mill and tower. The rolling mill division manufactures a wide range of construction steel products such as CTD/TMT bars and structural steel products such as equal angles, rods, rounds, squares, channel and beams. The tower division manufactures galvanised tower structure. The company has the capability of manufacturing towers up 400 kVA. The rolling mill division has a capacity to manufacture hot rolled CTD/TMT bars of 80,000-12,50,000 tonnes, based on all size of rods.
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