JISCO and JVSL debt expected to reduce

JISCO and JVSL debt expected to reduce

According to recent news in the market, combined debt of Indian steel producers Jindal Iron and Steel Company Ltd (JISCO) and Jindal Vijaynagar Steel Ltd (JVSL) is expected to decrease to Rupees 35 billion ($798 million) from the current debt of Rupees 41 billion ($935 million) by the end of current fiscal year. Moreover, it is also stated that the debt may decrease further to Rupees 30 billion ($684 million) by March 2006. However, the company officials stated that although the debt is being paid, the companies are planning to borrow money for expansion projects.