SunCoke Energy SXC and VISA Steel Limited (BSE: 532721 and
NSE: VISASTEEL) announced today the official launch of their cokemaking
joint venture in India. The new joint venture will be called VISA
SunCoke Limited. SunCoke Energy holds a 49% interest in the
joint venture, with VISA Steel holding the remaining 51%. SunCoke has
invested approximately Rs. 368 Crores (USD 67 million) to acquire a 49%
stake in the joint venture.
VISA SunCoke Limited is comprised of a 400,000 metric ton
heat recovery coke plant, and the associated steam generation units at
Kalinganagar in Odisha, India. SunCoke and VISA Steel will co-manage the
business with equal representation on the partnership's board.
See full press release
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