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India Close to Bulgarian Steel Plant Acquisition
Business | October 14, 2004, Thursday // 00:00
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The London-based Ispat group is close to acquiring Bulgaria's Kremikovtzi steel plant.
The group's Indian company Global Infrastructure Holding (GIHL) was negotiating with the Bulgarian company Kremikovtzi AD for the plant, Dragovest Goranov, ambassador of the Republic of Bulgaria to India told Financial Express.
"Final round of negotiations are underway between the Ispat group and Kremikovtzi AD, a local company, for a possible tie up," said Mr Goranov.
GIHL, a part of the Ispat group, is willing to invest over 300 million euro in the Bulgarian steel plant. Once the deal of 2.3 million tonne per annum steel plant is finalised, GIHL is expected to see a rise in its steel production capacity to 12.3 million tonne.
The group's Indian company Global Infrastructure Holding (GIHL) was negotiating with the Bulgarian company Kremikovtzi AD for the plant, Dragovest Goranov, ambassador of the Republic of Bulgaria to India told Financial Express.
"Final round of negotiations are underway between the Ispat group and Kremikovtzi AD, a local company, for a possible tie up," said Mr Goranov.
GIHL, a part of the Ispat group, is willing to invest over 300 million euro in the Bulgarian steel plant. Once the deal of 2.3 million tonne per annum steel plant is finalised, GIHL is expected to see a rise in its steel production capacity to 12.3 million tonne.
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