Visakhapatnam based Steel Exchange India (SEIL) is in the process of acquiring the 2.5 lakh tpa sponge iron steel manufacturing mill of Gold Star in Vizianagaram district.
SEIL plans to convert the Gold Star mill into an integrated mini steel unit, with an investment of Rs.596 crore, after which the facility will be able to produce 3 lakh tpa of re-bars. Of the total investment, promoters will contribute Rs.246 crore as equity while Rs.350 crore will be raised from financial institutions. |