PANAJI
Vedanta Ltd has incorporated a new subsidiary called Sesa Iron and Steel Limited for handling iron and steel business in Goa.
“Sesa Iron and Steel Limited is incorporated for growth projects and to undertake expansion of its operations," the company mentioned in a regulatory filing with the stock exchanges.
During the first phase of e-auction held in December, last year, the company had won Bicholim-Mulgao mineral block, having a total capacity of 84 million tons of iron ore.
The company was declared as preferred bidder for Cudnem Mineral Block during the second round of e-auction in June, this year.
Vedanta Group's Sesa Goa Iron Ore is also based in Goa and is engaged in exploration, mining and processing of iron ore.
