Steel maker Southern Ispat today said its board has approved various proposals including acquisition of an integrated steel plant.
The board has also approved the proposal to acquire iron ore mines for captive production of sponge iron, Southern Ispat said in a filing to the Bombay Stock Exchange (BSE).
The board has approved the proposal to purchase coal from Indonesia, the filing said.
The company's board has further approved the proposal to set up a coal and biomass-based 100 MW power plant, it said.
Moreover, the board has approved the raising of borrowing powers of the company to Rs 1,000 crore, the filing added.
