Liberty House to restart Adhunik, Zion Steel at Rs 300 crore investment

Liberty House to restart Adhunik, Zion Steel at Rs 300 crore investment

Liberty House plans to invest ₹300 crore to restart and modernise Adhunik Metaliks and Zion Steel.

The company owned by billionaire Sanjeev Gupta has received a formal NCLT order declaring it the highest bidder for Adhunik. It now plans to reopen the plant.

According to Gupta, the group will invest heavily to modernise and create a long-term future for Adhunik Metaliks and Zion Steel as the first step in a bid to build an integrated and sustainable business across India.

NCLT Kolkata had approved Liberty House’s resolution plan for both the companies on July 17. The plan had received 99 per cent of votes from the committee of creditors.

Image Credit : steelguru.com