Kong: Tata Steel is working out a $200 million seven-year loan which it
will use to expand production. It plans to build a $2.3 billion plant in the
eastern Chattisgarh state. Tata steel is also aiming to triple its production
to 15 million tonnes by 2010.
International Finance Corp., the World Bank's private lending unit, is providing
$100 million while other banks will co-finance the loan.
will pay interest of 0.55 percentage point more than the London interbank
offered rate for the loan.
company had $1.4 billion in earnings before interest, tax, depreciation and
amortization for the year ended March.