India’s JSW Steel is planning to raise around $132 million loan from the international market, Economic Times reports. The Mumbai-based steel maker will use the loan to fund expansion at a Chile iron ore project.
The company, which has been facing shortage of iron ore for its parent steel-making facility in Karnataka, is in discussions with banks for the debt which will account for about 85 percent of the total cost of the project. JSW Steel is owned by Mumbai-based JSW Group.
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