Yes that's correct.
The Capex figure should come in around $850-$900million.
The banks will only lend them the money once they have secured the $300-$350mill equity. This means they will be looking to finance approx $600mill in debt.
The company has advised me that bankers from a syndicate of 5 banks including Westpac, NAB & BNP Paribas will be doing a site visit next week on 23rd Sept.
I hope this clarifies things for you auto
very interesting on hebei steel , page-33
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