VISA Steel and Sun Coke Energy has officially formed their coke making joint venture (JV) in India. The new joint venture will be called VISA SunCoke. VISA steel will hold a 51% stake and SunCoke Energy shall hold a 49% stake. Sun Coke Energy has invested approximately Rs 368 crore ($67 million) to acquire a 49% stake in the joint venture.
The Joint venture is comprised of a 400,000 metric ton per annum heat recovery coke plant and associated steam generation units at Kalinganagar in Odisha, India. The Board of Directors of the joint venture company will have equal representation from VISA steel and SunCoke Energy.
VISA Steel is a leading player in the Special Steel, Coke and Ferro Chrome industry in India with manufacturing facilities located at Kalinganagar Industrial Complex in Odisha.
