Bhushan Power & Steel – a major integrated steel maker with a capacity of 3.5 MnT has recorded iron ore sourcing at 3.40 MnT in FY’19. The sourcing witnessed almost in line with FY18 at 3.36 MnT.
Sourcing from Rungta mines dropped 55% in FY’19
Essel mining supplies to Bhushan Power and Steel recorded highest for FY19 at 1.06 MnT, up 71% as against 0.62 MnT in FY18.
Serajuddin mines supplies increased to 0.65 MnT against being 0.23 MnT in FY18. The miner has ramped up production after resumed operations from its new pit and hit 1 MnT mark of production in Jan’19.
State owned miner- OMC mines recorded 73% rise at 0.82 MnT in FY’19 as against being 0.47 MnT in FY’18.
Sourcing from Rungta mines dropped 55% to 0.83 as against 1.82 MnT in FY’18.
Bhushan Power and Steel’s iron ore sourcing: FY’19 v/s FY’18
| Seller | FY19 | FY18 |
| Essel Mining | 1.06 | 0.62 |
| Rungta Mines | 0.83 | 1.82 |
| OMC | 0.82 | 0.47 |
| Serajuddin | 0.65 | 0.23 |
| RP Sao | 0.04 | – |
| SN Mohanty | 0.00 | 0.01 |
| Kaypee Enterprises | – | 0.20 |
| KJS Ahluwalia | – | 0.01 |
| Grand Total | 3.40 | 3.36 |
Source: SteelMint Research
Quantity in MT
Provisional Data
Bhushan Power & Steel NCLAT Case Update
Bhushan Power and Steel is one of the companies undergoing bankruptcy proceedings.
JSW Steel had been declared as the winning bidder for Bhushan Power and Steel (BPSL). CoC (Committee of creditors) has accepted the bid for acquisition of BPSL, JSW Steel’s plan has already been submitted to the National Company Law Tribunal (NCLT).
However, NCLAT on Tuesday (23th Apr) reserved its order on approval of JSW Steel’s resolution plan for Bhushan Steel and Power (BSPL). As per the media report , NCLT expected to give its final order on JSW Steel bid in the next 15 days.
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