Tata Steel acquires Rawmet at Rs 101 cr

New Delhi, Mar 7 (UNI) Tata Steel Ltd has acquired 100 per cent equity stake in Rawmet Industries Pvt Ltd (Rawmet) at an enterprise value of Rs 101 crore for which it signed a definitive agreement on January 15.

Rawmet has a Ferro Alloy plant near Cuttack, consisting of two 16.5 MVA semi closed electric arc furnace having a capacity of producing around 50,000 tonnes per annum of High Carbon Ferro Chrome.

UNI