VTB group owns 40%, Ruias 25% of Numetal

Numetal, the company that has bid for Essar Steel, is 40 per cent owned by Russia’s VTB group and 25 per cent by a trust where Rewant Ruia, son of Ravi Ruia, is the trustee. The balance is held by Russian engineering firm Tyazhpromexport (TPE), and a trading company.
 
TPE is a design and engineering consultant as well as an equipment supplier. The company, which has designed many steel plants across the world, played an active role in the modernisation of SAIL’s Bhilai and Bokaro plants.
 
Sources close to the development said the bids for Essar Steel would