Tata Steel Limited (BSE:500470) entered into a asset transfer agreement to acquire Two 16.5 MVA furnaces in Balasore of Stork Ferro and Mineral Industries Private Limited from Stork Ferro and Mineral Industries Pvt. Ltd. for INR 1.55 billion on March 30, 2022. Two 16.5 MVA furnaces with annual production capacity of approximately 53 Ktpa located at Balasore, Odisha. transaction is expected to completed in within two months of the asset transfer agreement.

Tata Steel Limited (BSE:500470) completed the acquisition of Two 16.5 MVA furnaces in Balasore of Stork Ferro and Mineral Industries Private Limited from Stork Ferro and Mineral Industries Pvt. Ltd. on July 26, 2022.