SAIL aims to bring down borrowings to Rs 20,000 crore

During FY21, net debt had decreased by Rs 16,131 crore to Rs 35,350 crore

Public sector steel major, Steel Authority of India Ltd (SAIL), is looking at bringing down its borrowings to Rs 20,000 crore by the end of the current financial year.

Soma Mondal, chairman SAIL, said that by year-end the aim is to reduce total borrowings at a level of Rs 20,000 crore depending on steel prices and demand situation. She was speaking on the sidelines of an event to mark the inauguration of MSTC’s corporate office building in Kolkata.

At the end of the first quarter of the financial year, SAIL had said that it had reduced Rs 5,063 crore of