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Jindal Steel to invest $475m on Oman plant expansion

India's Jindal Steel & Power Limited has raised $475m in India to fund expansion plans in Oman, Muscat Daily has reported. The company, which owns the Jindal Shadeed Iron and Steel plant in Sohar, raised the loan at 225 basis points over the Libor (London interbank offered rate), for a tenor of five years, with ten banks participating in the transaction.