SunCoke Energy, VISA Steel Announce India JV

SunCoke Energy

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.