JSW Steel submits EOI for stressed asset Asian Colour Coated Ispat

Apart from Asian Colour Coated, JSW has also submitted EOI for Uttam Value Steels which too is on the RBI's second list of NPAs

JSW Steel has submitted an expression of interest (EOI) for stressed asset, Asian Colour Coated Ispat, confirmed the company. 

Some private equity players are believed to have also submitted EOIs for the downstream steel facility. The date of issue of final list of resolution applicants is November 26 and the last date for submission of resolution plans is December 12. 

Asian Colour Coated has debt of around Rs 39 billion and was part of the Reserve Bank of India’s (RBI’s) second list of non-peforming assets NPAs. 

JSW’s move is in sync with its plan of acquiring downstream facilities. 

Asian Colour Coated has a cold