JSW to buy 49% stake in Brahmani River Pellets

JSW to buy 49% stake in Brahmani River Pellets

JSW Techno Projects Management  on Monday said it has executed definitive agreements to acquire 49% shares of Brahmani River Pellets (BRPL) from Aryan Mining and Trading Corp Pvt Ltd (AMTC).

The acquisition is subject to approval of the Competition Commission of India (CCI) and other conditions precedent as set out in the definitive agreements, it said.

The size of the deal was however not disclosed by the company. BRPL is engaged in the business of manufacture and sale of iron ore pellets. It owns a 4 MTPA pellet plant in Jajpur and a 4.7 MTPA iron ore beneficiation plant in Barbil, both in Odisha. Besides, it has a 230 km slurry pipeline connecting the pellet plant with the beneficiation plant.

JSW Techno Projects Management, a JSW Group firm, was incorporated on May 4, 2010 to carry on the business of rendering project management services, including management consultancy services and to act as advisor in matters relating to finance, organisation, management, technical know-how planning etc.

The company is owned by Sangita Jindal, the wife of Sajjan Jindal.

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