Essar Ports is planning to refinance $600 mn of bank borrowings to lower its cost of funds to 8-8.5 per cent from 11 per cent at present.
The company reportedly does not expect an adverse impact on its cargo volumes in case its flagship group Essar Steel is acquired by any of the potential suitors. Essar Steel contributes 80 per cent to the cargo volumes at Hazira and just over 50 per cent to cargo volumes at Paradip and Visakhapatnam.
Contact: ESSAR PORTS.
Website: www.essarports.com
