JSW Steel USA Ohio Inc, a wholly-owned indirect subsidiary of JSW Steel, has disclosed its decision to consider a proposal for raising long-term funds of around 30 years tenor for an aggregate principal amount of $145 million.
As per JSW Steel’s regulatory filing, the proceeds of the loan are proposed to be utilised for purposes of financing the cost of the acquisition, construction, equipping, and installation of a vacuum tank degasser and improvements to a continuous slab casting machine including dynamic soft reduction technology; and for initiatives such as Caster upgrades, Auxiliary Systems, infrastructure improvements and certain ancillary equipment.
JSW Steel stock rose by 2.15 per cent on the NSE, trading at ₹836.75 as of 12:46 pm on Friday.