Sandur Manganese and Iron Ore (SMIORE) has successfully secured an additional 20% equity stake in Arjas Steel Private Limited (ASPL), bringing its total ownership to 100%. The acquisition is set to be completed by 15 Nov’24. This follows SMIORE’s earlier purchase of an 80% stake in ASPL in Apr. ASPL specialises in the production of alloy and microalloy steel, with both upstream and downstream manufacturing facilities.
Leave a Reply