Jayaswal Neco Secures Project Funding, Achieves Financial Closure
Jayaswal Neco Industries Ltd has announced the achievement of financial closure for its new 1.50 MnTPA Straight-Grate Pellet Plant project. The company has received approval from all existing lenders for the project, which includes a new Raw Material Handling System and other associate facilities at its Siltara, Raipur complex. The project has an appraised cost of approximately ₹720.00 Crores, with ₹540.00 Crores sanctioned as Term Debt and the remaining ₹180.00 Crores to be funded by equity and internal accruals. The expansion is aimed at crucial business growth and utilizing iron ore from captive mines. The construction period is estimated at 24 months from the first drawdown of term debt, which is yet to materialize.
Key Highlights
- Financial closure achieved for new 1.50 MnTPA pellet plant.
- Project cost estimated at ₹720 Crores, funded by debt and equity.
- Expansion aims to utilize captive iron ore resources.
- Construction expected to take 24 months post-funding.
- All existing lenders have approved the project.
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