Essar Steel Limited has entered into a definitive Business Transfer Agreement with Shree Precoated Steels Limited (SPSL) to acquire the entire assets and steel business of the Company, subject to regulatory and other approvals.  Under this term, the assets to be transferred include the plant, comprising a colour coating line (annual capacity 400,000 tonne), cold rolling mill (annual capacity of 600,000 tonne), galvanising line (annual capacity of 500,000 tonne) and pickling line (annual capacity 650,000 tonne). The plant is located at Sanaswadi near Pune, Maharashtra, which is one of the largest steel consuming centres in the country. Once the acquisition is completed, Essar Steel will have the largest cold rolling capacity (2 million tonne), the largest colour coating facilities (0.4 million tonne) largest galvanising capacity (one million tonne) and pickling capacity (2.2 million tonne) in the country. |
