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| Exchange Disseminated Time | Visa Steel Ltd has informed BSE regarding a Press Release dated November 20, 2012 titled "Visa Steel and Suncoke Energy, Inc. announce Indian Joint Ventures".
Press Release:
VISA Steel Limited and Suncoke Energy, Inc. are pleased to announce that they have entered into agreements to form a cokemaking joint venture in lndia Suncoke Energy will invest approximately Rs. 368 Crores (US$67 million) to acquire a 49% interest in the joint venture. VISA Steel will hold the remaining 51%. The joint venture, which will be unlevered at closing, will be comprised of VISA Steel’s existing 400,000 MT per annum heat recovery coke plant and associated steam generation units at kalinganagar in Odisha, India. The transaction is expected to close in the first quarter of 2013,subject to customary conditions, including approval from VISA Steel shareholders. (For more details kindly refer Corporate Announcements on www.bseindia.com).
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