Reliance Infrastructure today said its board has approved raising up to Rs 2,500 crore through various instruments in order to refinance its debt.

“Reliance Infrastructure in its Board meeting held today approved raising of long term resources through external commercial borrowings, foreign currency convertible bonds, and rupee term loans up to Rs 2,500 crore,” the company said in a regulatory filing to the BSE.

The amount raised will be utilised towards refinancing and extending maturities of higher cost rupee debt and other approved end uses, the company said.

Earlier this week, the company said its subsidiary Reliance Cement will commission, this month, its Rs 3,000 crore Madhya Pradesh cement manufacturing unit that will cater to markets in central, eastern and northern India.

The company also said that it is hopeful of achieving the 20 million tonnes per annum target in the next three-four years.

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