Talks on sale of Odisha asset in final stage: Bhushan Steel

Debt-laden Bhushan Steel today said the discussion regarding the sale and lease-back arrangements of two of its assets - coke oven and oxygen plant - in Odisha is in final stage.
"Our discussion regarding sale and lease-back arrangements of coke oven plant-1 and oxygen plant-V of the company is in final stage", the Bhushan Steel said in a regulatory filing.
The company was replying in response to a clarification sought by BSE regarding a media report which said that Bhushan Steel might get Rs 3,000 crore from asset sale.
The country's largest manufacturer of auto-grade steel also said that "the relevant information in this regard would certainly be announced to the exchanges...As soon as some concrete action is generated".

The company further said it has entered into sale and lease-back arrangements of the oxygen plant situated at its steel division, Meramandali, Odisha.
In a meeting held last month, its Board of Directors approved "sale and lease-back arrangements of coke oven plant-I and oxygen plant-V of the company situated at integrated steel plant, Meramandali", it added.