By Nikita Periwal
Copyright indiatimes
Mumbai: Lloyds Metals and Energy plans to spend ₹20,000-22,000 crore on capital expenditure over the next four-five years as it sets up an integrated steel plant with a capacity of over 4 million tonnes (MT), managing director B Prabhakaran told ET in an exclusive interaction.The company will also look at strategic partnerships with other steel making companies once the initial capacity is set up. “If there is a company which is looking at the India market and wants to partner us, we will be more than happy to discuss with them. It could be an Indian or a foreign company,” he said.While the company is keen to operate its mines and plant itself, it is hoping that a partnership will bring in the expertise for steel production. The country’s largest iron ore miner by market capitalisation is foraying into steel and will be setting up a capacity of 3 MT for the production of hot-rolled coils and 1.2 MT for wire rods. It sees its cash flows in the range of ₹3,000-5,000 crore from fiscal 2026 onwards, and will be funding this capex largely through its internal accruals along with some debt.”We are not debt averse but would like to be very calibrated in debt raising,” Prabhakaran said. “I would like my net debt to be lesser than my Ebitda.” Add as a Reliable and Trusted News Source Add Now!
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