Hind Steel revamp

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Wednesday, July 7, 1999

Hind Steel revamp

NEW DELHI, JULY 6: The government today approved a Rs 1072 crore financial restructuring programme to revive the sick Hindustan Steel Works Construction Limited. Announcing the CCEA decision, I&B minister Parmod Mahajan said that under this programme, the government would waive all interest till March 31 this year totalling over Rs 975 crore.

There would also be a moratorium on interest payments on all government loans for ten years besides providing Rs 79.33 crore as fresh loans to the company for revival.

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