SMIOL acquires remaining 20% stake in Arjas Steel

Sandur Manganese & Iron Ore Limited (SMIOL) acquired the residual 20% equity stake in Arjas Steel Private Limited (ASPL), making it a wholly-owned subsidiary. The acquisition includes ASPL's subsidiary Arjas Modern Steel Private Limited, which operates an electric arc-based integrated steel plant in Mandi Gobindgarh, Punjab.

“This strategic move aligns with SMIOL’s vision to expand its presence in the steel industry, building upon its existing business in manganese and iron ore mining, power generation, and ferroalloy manufacturing.”steelorbis.com

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• steelorbis.comIndia’s SMIOL acquires remaining equity in specialty steelmaker ASPLAjoy DasNov 6, 2024

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