ET reported that JSW Steel has tied up funds for its 2.3 million tonnes cold rolled mill at its Vijaynagar plant.

As per report, JSW has raised USD 280 million (INR 1280 crores) via external commercial borrowing. The total project cost is INR 4025 crores.

Rest of the debt will be tied up via ECA or external commercial assistance while buying equipments for the plant and JSW Steel will infuse INR 1300 crores of equity funding via internal accruals.

JSW Steel plans to build 1.9 million tonnes of continuous annealing line and 0.9 million tonnes of galvanizing, galvannealing line.

The company aims to finish the first phase by Q1 FY 14 and phase 2 by Q1FY15.

(Sourced from ET)