Source - CNBC-TV18

In interview to CNBC-TV18, Mr Ramesh Jayaswal joint managing director of Jayaswal Neco Industries said the company is increasing its capacity by half a million tonne. He added that “The total CAPEX will be to the tune of INR 3,700 crore.”

Below is the edited transcript of his interview with CNBC-TV18.

Q - Can you take us through the CAPEX, which you have coming on stream, we understand it is 0.5 million tonne?

A - We are increasing our capacity by half a million tonne. We are instigating the existing facilities by augmenting our coal as well as iron ore mine. We are increasing the capacity of steel making of alloy steel by half a million tone.

The total CAPEX will be to the tune of INR 3,700 crore. We are coming up with a 12 megawatt waste heat recovery based power plant. Then we are doing some three bottlenecking to our wire rod block. So, the total CAPEX, which will be ultimately will be completed during the year till 2013-2014, is between INR 3,700 crore.

Q - And how much is the total requirement in terms of funds for all of this CAPEX?

A - The total fund requirement is INR 3,700 crore. Promoters are bringing in substantial fund to complete the project in time.

To read full transcript, please visit www.steelguru.com