Tata Metalinks Limited To Sell Pig Iron-Making Facility In West India-DJ

Dow Jones reported that Tata Metalinks Limited has signed a pact with Fomento Resources Group to sell its pig iron-making facility in western India for INR1.80 billion. As part of the strategic review of its portfolio, the board has decided to sell its 300,000 ton facility at Redi in Maharashtra, which serves the western and southern Indian markets. The sale is subject to shareholder and regulatory approval and the proceeds would be used to cut debt and for future strategic investments, the statement said.