India’s KFL to acquire pig iron facility

Tuesday, 15 September 2020 14:28:29 (GMT+3)   |   Kolkata

India’s Kirloskar Ferrous Industries (KFL) has approved acquiring all assets of pig iron plant of VSL Steels Limited, according to a regulatory filing by the company.

KFL said that a total amount of INR 1.32 trillion ($18 million) will be paid in installments to acquire the pig iron making facilities of VSL Steels Limited located in southern state of Karnataka. The deal will help KFL to increase its pig iron capacity from 391,400 mt per year to 541,400 mt.

At the moment facilities of VSL Steels Limited are out of operations. The operations of the pig iron plant will start in six months and that of the sinter plant within the next eighteen months.

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