Zion Steel

GFG Alliance intends to invest and buy more steel and mining assets in India, reviewing opportunities in the next six to 12 months. Liberty Steel Group, a subsidiary, plans to integrate Adhunik Metaliks and Zion Steel and increase capacity to nearly 2 million mt per year by 2022.

GFG Alliance completed the acquisition of Adhunik Metaliks Ltd and Zion Steel Ltd in a Rs 4.25 billion ($60 million) cash deal, marking its entry into the Indian steel market.