KOLKATA, March 29 (Reuters) - Steel firm Ispat Industries
Ltd <ISPT.BO> plans to raise 10 billion rupees through a mix of
rights issue and foreign currency convertible bonds (FCCB) to
part-finance new projects and capacity expansion, a top official
said on Saturday.
The firm is setting up a 1 million tonne a year coke oven
plant and a 4.5 million tonnes a ear pellet plant, Anil Sureka,
director (finance) told reporters.
The steel maker also plans to raise existing hot-rolled coil
capacity to 3.6 million tonnes a year, from 3 million tonnes, he
said.
The projects will cost the company 22.92 billion rupees, he
said.
"We are exploring the rights issue and FCCBs option for
financing the projects," he said, adding, nothing has been
finalised yet.
The firm is expecting to implement all three projects within
two years.
(Reporting by Tamajit Pain)
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Keywords: ISPAT PLANS/