Sources in the industry told The Hindu that RINL, the corporate entity of Visakhapatnam Steel Plant, India’s first shore-based integrated steel plant, could do better notwithstanding steep rise in raw material cost and prolonged dullness in the manufacturing and realty sectors. The interest burden due to Capex (capital expenditure) was estimated to be ₹200 crore to ₹250 crore. The navratna company has borrowed about ₹10,000 crore to ₹11,000 crore for modernisation and expansion. For the ₹12,300-crore 6.3 million tonne expansion project, it has mopped up resources from internal accrual. Imposition of higher anti-dumping duty is also expected to discourage flooding of domestic market with cheap products from China.

Source: The Hindu June 03, 2017 18:45 UTC