SunCoke Energy, VISA Steel has formally launched coke making JV company in India.
VISA SunCoke, the new JV company, SunCoke Energy holds a 49 per cent interest in the joint venture, with VISA Steel holding the remaining 51 per cent. SunCoke Energy has invested approximately Rs 368 crore (USD 67 million) to acquire a 49 per cent stake in the JV company.
VISA SunCoke consists of a 400,000 tonne heat recovery coke plant and the associated steam generation units at Kalinganagar in Orissa. SunCoke and VISA Steel will co-manage the business with equal representation on the partnership’s board.