14
Nov
15:37
JSPL African unit turns around in business rescue
Jindal Steel & Power (JSPL)’s South African subsidiary Jindal Mining (JMSA) has turned around and reported cash profit in the September quarter, following its entering into business rescue (BR) proceedings.
“As part of the BR, the company engaged with stakeholders to restructure the liabilities… to make the business profitable in the long run,” the Indian steelmaker says. “The operations at JMSA are now stable and ramping up we…
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