The sector is one of the most stressed, leaving banks with a pile of dud assets
It also intends to lay a pipeline from the point of sourcing iron ore at Barbil in Keonjhar district to its Angul plant at a cost of Rs 800 crore
Credit rating agency, CRISIL had in February downgraded the company's papers to 'D'.
According to market analysts here, GCC requires around 15 million tonnes of steel annually