Tata Steel to ink pact with Chinese firms
Tata Steel to ink pact with Chinese firms >Tata Steel is in the final stages of negotiation with two China-based companies for the import of technology and equipment for a 1.5 million tons per annum capacity coke oven plant to be set up at its proposed 6 million tons, Rs 150 billion steel facility at Kalinga Nagar in Orissa, reports Business Standard. The total value of the contract is likely to be around Rs 5 billion. The two companies are Anshan Coking and Refractory Engineering (ACRE) and the Chinese arm of Koch, a German company. ACRE will supply the main battery, while Koch will supply machinery for the coke oven plant. It is expected that the largest steel company in India will sign the contract with these two companies in the next week. Shares of the company gained Rs 55.75, or 7.02%, to trade at Rs 850.35. The total volume of shares traded was 3,224,628 at the BSE.(1.47 pm ,Friday)
