Tata Steel to offload 19 per cent holding in AI Rimal
COAL & MINING

Tata Steel to offload 19 per cent holding in AI Rimal

Tata Steel announced the sale of a 19 per cent stake in Al Rimal Mining LLC in Oman (Al Rimal). With this transaction, the company's stake in Al Rimal has been reduced from 70 per cent to 51 per cent. Tata Steel’s wholly owned subsidiary TS Global Holdings (formerly TS Global Mineral Holdings) According to the statement, T S Global Holdings has agreed to transfer its 19% stake in Al Rimal to Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal.

Also read:
4 electric machine prototypes to be unveiled by Caterpillar at Bauma
JSW Energy to build 960 MW hydro pump storage facility in Maharashtra

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Tata Steel announced the sale of a 19 per cent stake in Al Rimal Mining LLC in Oman (Al Rimal). With this transaction, the company's stake in Al Rimal has been reduced from 70 per cent to 51 per cent. Tata Steel’s wholly owned subsidiary TS Global Holdings (formerly TS Global Mineral Holdings) According to the statement, T S Global Holdings has agreed to transfer its 19% stake in Al Rimal to Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal. Also read: 4 electric machine prototypes to be unveiled by Caterpillar at Bauma JSW Energy to build 960 MW hydro pump storage facility in Maharashtra

Next Story
Infrastructure Urban

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Next Story
Infrastructure Transport

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Next Story
Infrastructure Transport

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement