Bhushan Steel is contemplating with Monet Ispat and Energy to acquire the company’s stake in Orrisa Sponge Iron and Steel Ltd.
Bhushan Steel said that they are in talk with Monnet Ispat regarding purchase of their stake at Orrisa Sponge Iron and Steel Ltd. and is looking at every angle before any commitment. This may take two to three months for them to come to any final conclusion about this deal.
In the meantime, OSISL showed its ignorance about the whole issue and said that they have no knowledge of any such deal or talk.
About OSISL- it is promoted by Torsteel Research Foundation in India. The company has been rechristened as Orissa Sponge Iron & Steel Ltd. on November 18, 2005.
In its website it mentioned that it has been allocated coal block at New Patrapara, Talcher and its total reserve is 114 million.
The post Bhushan Steel to acquire stakes in Orissa Sponge Iron & Steel Ltd. appeared first on EPC World.