Bellary Steels and Alloys' debt restructuring proposal submitted to Industrial Development Bank of India (IDBI), the lead financial institution for the company, is under active consideration.According to a release issued by Bellary Steels to the BSE today, the company's debt restructuring proposal is expected to be completed and be in place within the next three months.Following the restructuring of debt, availability of captive ore and commissioning of the power plant, the bottomline and cash flow of the company would improve tremendously, the release added.Also, all the clearances in respect of Jaisinghpur Iron Ore Mines for captive consumption are through except the last mile formalities like affrorestation fees, which are currently under the process of compliance by the company. This is also expected to be completed within the next three months.The release added that the company is also in active discussions with various carbon credit agencies for completion of its captive 12 MW power plant. The balance work is being taken up for completion and the plant is expected to be completed and go on stream within the next 10 to 12 months.
