India’s Sandur Manganese & Iron Ores Limited (SMIORE) board has approved the acquisition of an additional 20pct stake in Arjas Steel Private Limited (ASPL), bringing its total equity shareholding to 100pct, the company announced in a stock exchange filing.
The acquisition is a strategic investment that aligns with SMIORE’s vision to become a fully integrated player in the national steel industry, the company stated.
ASPL is a special steel manufacturer primarily serving the automotive sector in India, with a combined production capacity of 500,000 tons per annum across its facilities in Tadipatri, Andhra Pradesh, and Mandi Gobindgarh, Punjab.
Known for its mining operations in manganese and iron ore, as well as power generation and ferroalloy and coke production, Sandur Manganese aims to strengthen its presence in steel and value-added products.
