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Home • Metallurgy news

Synergy Capital, based in Dubai, acquires MET's coke asset in India

Synergy Capital, базирующаяся в Дубае, приобретает коксовый актив MET в Индии

Synergy Capital, a Dubai-based company, has acquired the metallurgical coke chemical asset of India's Saurashtra Fuels Limited, located in Mundhra, Gujarat, to become one of the largest independent producers of MET coke in the country, the company said in a statement on Tuesday, October 7.

The company said the acquisition was aimed at securing production bases for key steelmaking raw materials that are believed to be undersupplied in the country.Synergy Capital will pay approximately $135 million to SFL promoters over three years, he added. In addition, the new owners plan to invest another $225 million in the construction of a power plant at the MET coke plant.

Synergy Capital is headed by Sudhir Maheswari, who was previously associated with the ArcelorMittal steel company for 27 years and currently holds the position of fund manager in Asia.