Jindal Steel bets on higher asset utilisation to nearly halve its Rs 45,000 crore debt

Jindal Steel & Power Ltd plans to almost halve its Rs 45,000 crore debt in four years through higher asset utilisation and asset sales, company’s MD and Group CEO Ravi Uppal told Moneycontrol in an interview.

“We are going to take a long pause. We are not going to add any more capacity. We will only be focusing on sweating the assets more and use all the earnings and savings to reduce the debt. Our basic target is that in the next three to four years’ time, I don’t want to say more or obvious although all efforts will be on. We should be in the range of Rs 25,000-Rs 30,000 crore which is an affordable debt,” Uppal said.