 "Lenders prepare Monnet Ispat for recovery")
Monnet Ispat & Energy - acquired by AION and JSW Steel through the insolvency process - is looking to start integrated steel operations, in the wake of a pick-up in steel demand.
JSW Steel's joint managing director and group chief financial officer, Seshagiri Rao, said, "We have completed expansion of pellet plant to 2.4 million tonnes and we are also starting the integrated steel operations next month. So things should look better for Monnet."
Currently, integrated operations is completely shut. Monnet, which owed banks Rs 11,000 crore, was one of the 12 non-performing assets (NPAs) mandated for resolution under the
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