February 02, 2010
Jindal Steel in race to buy Zimbabwe’s ziscosteel
Posted by: admin : Category: Current affairs
ArcelorMittal is the only other bidder for the state-run company.
The Naveen Jindal-controlled Jindal Steel & Power Ltd (JSPL) is in the race to acquire a majority stake in Zimbabwe Iron & Steel Company (Ziscosteel) — the largest steelworks in the African country.
JSPL is pitted against ArcelorMittal, the only other suitor for the company. According to JSPL sources, the qualifying round has concluded. Following this, due diligence will be done and then the bids will be submitted.
