Indian steelmaker
Tata Steel has signed two external commercial borrowing (ECB) agreements valued $73.36 million to fund the company's ongoing expansion plans.
According to the company announcement, the funding will be utilized to finance the import components of ’Blast Furnace H' and ’Sinter Plant 4' as part of the ongoing expansion project in Jamshedpur.
Blast Furnace H, which will produce 2.5 million metric tons of hot metal per year, will be commissioned by Paul Wurth Italia and Larsen & Toubro while Sinter Plant 4 of 2.3 million metric tons capacity will be commissioned by Outokompu Technology GmbH,
Germany and Larsen & Toubro.