Rajiv Agarwal, MD and CEO of Essar Port is quoted as saying that the debt level of the company (Rs 5,700 crore) was reasonable for the size of the firm.
The firm has an equity of about Rs 2,800 crore and a debt of about 5,800 crore. The company is making efforts to reduce the interest cost, he is quoted as saying in a media.
He said in infrastructure project, it is important that to have lower interest cost because it always helps to make more investments and have more resources for the company.
So, the company will try in this year to reduce interest cost by few basis points and bring it down to about 10 percent or 9.5 percent from 12 percent today, Agarwal is learnt to have said.
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