28
May
01:00
Essar to sell Vizag units to fund operations after 2% sales hike in last fiscal year
Essar Steel plans to sell its Vizag slurry pipeline and coke oven this fiscal year to raise around INR 7,000 crore ($1.1 billion). It requires the cash to strengthen its balance sheet and meet financial needs, Kallanish learns from the Indian steelmaker. The firm recently sold its Odisha slurry pipeline and oxygen plant for INR 4,850 crore.
Essar’s steel product shipments rose 2% on-year in the fiscal year through March to 3.31 million tonnes, of which…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous