INSUBCONTINENT EXCLUSIVE:
MUMBAI: Leading alloy steel maker Kalyani Steels and Swiss trading company IMR Metallurgical are in a race to acquire SBQ Steels, a bankrupt
company that has an integrated plant located at Krishnapatnam in Andhra Pradesh, two senior bank officials, who did not want to be
identified, said.
Apart from these two bidders, Shyam Metalics and Orissa Metaliks too have shown interest in the steel company, the persons
The company was referred to bankruptcy court by Union Bank of India
The resolution professional, Ashish Rathi, who is backed by consulting firm BDO, has received total claims of Rs 3,630 crore from financial
plant located at Krishnapatnam to manufacture 0.25 MTPA of forging grade alloy and special steel
It also owns two power plants with 45MW capacity each, an electric arc furnace, a rolling mill and a coke oven plant
strategically located, given its proximity to two major seaports that could enable the bidder to tap large export markets in Africa and
The plant is 24 km away from Krishnapatnam port, 150 km from Chennai port and also 18 km from Gudur railway station in Andhra Pradesh.
This
apart, it is close to manufacturing facilities of auto majors such as Hyundai, Ford, Nissan, BMW, Daimler, Ashok Leyland, Mitsubishi and
