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11-Apr2018

Tata Steel inks agreement to hike stake in SPPL

Tata Steel has entered into a definitive agreement to subscribe to additional 4.19% equity shares of Subamarekha Port (SPPL) on April 09, 2018. Following such subscription, Tata Steel shall hold an aggregate of 7.06% of the equity share capital of SPPL.

Earlier, the company had executed definitive agreement for development of SPPL and acquisition of 51% equity shares of Creative Port Development (CPDPL). In March 2017, Tata Steel had subscribed to 3% equity shares in SPPL.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world's second most geographically diversified steel producer and a Fortune 500 Company.


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