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Essar completes acquisition of ZISCO; commits $750 mn

Last Updated: Wednesday, August 3, 2011, 23:03

Essar Wednesday said it has completed the acquisition of Zimbabwe Iron and Steel Company (ZISCO) with a commitment of USD 750 mn (over Rs 3,300 crore) and would take over all liabilities of the company and Zimbabwe government.

POSCO plant to be built in three phases

Last Updated: Wednesday, July 13, 2011, 15:33

South Korean steel major POSCO will build the USD 12 billion plant in Orissa in three phases and hopes to start work on four million tonne (MT) first phase soon after the land is transferred to it.