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IMR Metallurgical Resources plans to buy a stressed steel plant in Odisha - Director

Steel News - Published on Thu, 21 Feb 2019

Image Source: Economic Times
ET reported that the Swiss commodity trading group IMR Metallurgical Resources AG director Mr Sanjay Sinha said “We are speaking to bankers to acquire a stressed steel plant in the eastern region. We hope to close the deal soon. IMR is now keen to expand in India by acquiring small and medium-size firms outside the NCLT that can help us get into steel production.”

He did not reveal the identity of the plant the company seeks to buy.

The deal, if it goes through, is likely to set a precedent for foreign firms buying into India’s steel industry.

IMR Metallurgical Resources had recently bought Tata Steel’s iron ore mines in South Africa had also bid for ferro alloys producer FACOR under the NCLT last year.

Source :

Posted By : Ratan Singh on Thu, 21 Feb 2019
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