Bihar Sponge Iron Limited Enters Agreement with Amalgam Steel & Power Limited to Resume Operations
Bihar Sponge Iron Limited announced on March 26, 2026, that it has entered into a Facility User Agreement with Amalgam Steel & Power Limited. The agreement, dated March 23, 2026, is intended to facilitate the resumption of operations at the company’s Sponge Iron Plant and railway siding in Jharkhand.The move follows the termination of a previous Facility User Agreement with Vanraj Steels Private Limited and others. The company had previously announced a temporary suspension of operations at the plant by Vanraj Steels Private Limited on February 7 and February 10, 2026. The new agreement with Amalgam Steel & Power Limited is expected to improve plant utilization.
Vimal Prasad Gupta, Company Secretary & Compliance Officer of Bihar Sponge Iron Limited, made the announcement. The company's stock trades on the BSE under the scrip code 500058.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.