OfBusiness plans to invest Rs 3000 cr in next 3 yrs to ramp up steel biz

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OfBusiness plans to invest Rs 3000 cr in next 3 yrs to ramp up steel biz - Business Standard

Quick Summary:

OfBusiness, a b2b commerce and fintech startup, is looking to invest about Rs 3,000 crore into doubling its steel business to more than 4MTPA in the next three years.

"We are looking forward to investing close to USD 350 million, about Rs 3,000 crore, to scale up our steel business from the current 2 million tonne to more than 4 million tonne in the next 3 years.

The company has acquired three steel firms -- SMW Ispat, Shree Sidhbali Ispat and Noble Steel -- in the past and the expansion is lined up in all the three companies.