TISCO to submit offer for a Ukrainian firm
According to recent news in the market, Indian steel producer Tata Iron and Steel Corp (TISCO) shows interest in privatization of Ukrainian Kryvorozhstal Kryvy Rih which has the largest
iron ore reserves in the world. Ukrainian mill has an integrated ore processing and steel producing facility.
How much TISCO will offer for the mill which holds 90% of country's high grade ore reserves and produces 5 million tons of steel per annum, is not certain yet, however TISCO is stated to have investible fund of $1 billion for the acquisitions.
TISCO has acquisition and investment plans in certain countries such as in
Ukraine,
China,
Thailand,
Singapore,
Malaysia and Vietnam as previously reported by SteelOrbis. In line with its plans, TISCO is in negotiations with Chinese
Baosteel for alliance and Thai firm Thai Union Steel for a takeover.