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This is an archive article published on July 17, 2009

SAIL to borrow Rs 5,000 cr in FY’10

SAIL said it would borrow Rs 5,000 crore this fiscal to partly fund its expansion plans.

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State-owned SAIL said it would borrow Rs 5,000 crore this fiscal to partly fund its expansion plans.

“We will be borrowing to finance our capital expenditure of this fiscal. It could be through long term debt… we’ll borrow at least 50 per cent of our capex of about 10,000 crore,” SAIL Chairman S K Roongta said in New Delhi.

The company,which had earlier this month slashed prices of its products by up to Rs 2,000 a tonne,said it may remain steady.

“The prices are looking stable,” he said.

When asked if the company is considering FPO to raise funds,he declined to comment.

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