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Article: India: ESSAR steel completes acquisition of Shree Precoated.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
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Byline: pinto03
Essar Steel announced that it has completed the acquisition of steel assets of Shree Precoated Steels Limited. This facility has since become part of Essar Steel.
The assets that have been acquired include the plant comprising color coating line, cold rolling mill annual capacity of 600,000 tonnes, galvanizing line annual capacity of 500,000 tonnes and pickling line annual capacity 650,000 tonnes. The plant is strategically located at Sanaswadi near Pune, Maharashtra, which is one of the largest steel consuming centre.
The total value of the fixed and current assets acquired is approx INR 1200 crores. This is funded through a ...