Bhubaneswar: Tata Steel Friday announced that it is acquiring Brahmani River Pellets Ltd.(BRPL) from Aryan Mining & Trading Corporation(AMTC) and other companies in the Moorgate Industries Group (MIG) for a consideration money of Rs900 crore plus.
BRPL owns a 4 million tonnes per annum (mtpa) pellet plant in Odisha’s Jajpur and a 4.7 mtpa iron ore beneficiation plant at Barbil connected through a 220 km underground slurry pipeline.
BRPL was originally established by MIG(formed on demerger from Stemcor Group Companies as part of a UK court approved restructuring in 2015), whcih continues to hold a significant stake in the BRPL through its shareholdings in AMTC.
BRPL will be a strategic acquisition for Tata Steel which is running a 3 million tonne integrated steel plant at Kalinganagar in Jajpur district, said Kaushik Chaterjee, Group Executive Director and Tata Steel Board member.
