JSW Steel - ECB raising

JSW Steel has successfully managed to raise $280 million (Rs 1280 crore) via external commercial borrowing (ECB). The company has tied-up funds for its 2.3 million tonnes of cold rolled mill at its Vijaynagar plant. The total cost of the Vijaynagar plant is Rs 4,025 crore. JSW Steel will infuse Rs 1300 crore of equity funding via internal accruals. The company while buying equipments for the plant will arrange for the rest of debt and will tie-up via external commercial assistance (ECA).