India’s Tata Steel Limited has divested itself of a 19 percent stake in Oman-based limestone mining company Al Rimal Mining, in favor of the National Investment Development Company, Oman, a Tata Steel regulatory filing said on Wednesday, October 5.
Following the divestment of the stake, Tata Steel’s equity holding in Al Rimal stands reduced to 51 percent from 70 percent and the National Investment Development Company’s stake increases to 30 percent, the regulatory filing said.
I graduated from the University of Kolkata with a degree in economics and have three decades of experience in reporting for leading print media publications, covering key manufacturing industries like iron and steel, energy (fossil and renewable), chemicals and petrochemicals and mining sectors (coal, bauxite, iron ore and copper). I work as a correspondent for SteelOrbis reporting on the Indian steel industry covering pricing and trade trends across the value chain, capacity creations and utilizations, corporate developments, government policy frameworks and industry related news.
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