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Bhuwalka Steel to buy Benaka Sponge for Rs 9.9 cr

Source : REUTERS
Last Updated: Tue, Feb 26, 2008 05:37 hrs

Mumbai: Bhuwalka Steel Industries Ltd said on Tuesday its board has approved buying Benaka Sponge Iron Pvt Ltd for Rs 9.9 crore.

A greenfield project of the same size would cost Rs 30 crore and about 18 months to 24 months to start operating, the company said in a statement.

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