Tata Steel (TSL) has on 15 December 2021, executed a long-term agreement with Angul Sukinda Railway (ASRL), for the construction, operation and maintenance of an alternate railway line (Additional Rail Line).
The agreement is for a period of 20 years to meet the logistic requirements of TSL's Kalinganagar Steel Plant.
TSL will be funding the entire expenditure of Rs 400 crore (in a phased manner) for construction of the Additional Rail Line by subscribing to 40,00,00,000 non-convertible, non-cumulative, redeemable preference shares of face value Rs 10 each (RPS) of ASRL (Transaction).
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
