Business Update24 Mar 2026, 03:44 pm
Bihar Sponge Iron Ltd Enters New User Agreement with Amalgam Steel & Power Limited
AI Summary
Bihar Sponge Iron Ltd has entered into a new Facility User Agreement dated 23rd March, 2026 with M/s Amalgam Steel & Power Limited for operation of the company's Sponge Iron Plant and operating the Railway Siding etc. at Jharkhand. This agreement is expected to facilitate resumption of operations and improved utilization of the plant, following the temporary suspension of operations at the company's plant by M/s Vanraj Steels Private Limited and others.
Key Highlights
- Bihar Sponge Iron Ltd has entered into a new Facility User Agreement with Amalgam Steel & Power Limited.
- The agreement is for operation of the company's Sponge Iron Plant and operating the Railway Siding etc. at Jharkhand.
- This agreement is expected to facilitate resumption of operations at the plant.
- The agreement is also expected to improve utilization of the plant.
- This move follows the temporary suspension of operations at the company's plant by M/s Vanraj Steels Private Limited and others.