JSW Steel aims to expand its steel production capacity at its Vijaynagar plant to12 mn t from10 mn t and for this purpose the firm has proposed to invest Rs 6,000 crore in 2012-13.
 
 The company expects to complete the expansion of Vijaynagar unit by 2013-14. Of the Rs 6,000 cr investment,Rs 3,500 crore will be debt and the rest will be through the route of equity.  
 
 The company does not want to increase the Karnataka plant capacity to 16 mn t as planned earlier, until there is clarity on iron ore supply issue. The company, which has around Rs 3,200 crore of cash reserve, has a gross debt-equity ratio of 0.98 percent by the end of March, 2012.
 
 The company has a strong balance sheet and redemption of FCCBs which is due in the near future will not be an issue, a top official of the firm said. The company had raised FCCBs of $325 million in 2007-08, which are due for redemption in the near future.
 
 While iron ore prices are witnessing a downward bias, coking coal prices are not likely to rise significantly, sources said. 
 
 JSW Steel produced 7.82 mn t of steel in the last financial year and aims to produce 9 mn t in the current fiscal.