Essar to buy two Korean steel units

摘要

Essar Global, an international investment arm of the Essar group, has signed an agreement with South Korea's INI Steel to buy two steel-making units for about 100 million dollars (approximately Rs 437 crore). Industry sources said Essar Steel might use the units, which were now being dismantled for shipment to India, in any of Essar Steel's upcoming plants. An Essar group spokesperson confirmed the acquisition which was subject to certain conditions". He said the Essar group was yet to decide on the location where the units would be set up.