Tata Steel 'is top bidder' for insolvent Bhushan steelmaking assets

Indian steelmaker Tata Steel has submitted the highest bid to buy the insolvent Bhushan Steel and Bhushan Power & Steel, Metal Bulletin understands.

If its acquisition is successful, Tata will continue to expand its crude steel capacity in India, having already committed to raising its domestic capacity to 18 million tonnes per year by upgrading its mill in Kalinganagar, in the east of the country.
Bhushan Steel has capacity for more than 10 million tpy of crude steel, while Bhushan Power & Steel can make around 3 million tpy.

Fellow Indian steelmaker JSW and a group of...

Published

Lee Allen

February 19, 2018

15:47 GMT

London