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Joint venture agreement will help us reduce our debt, says Mukand

Mukand stock has been buzzing around. The company produces both alloy steel as well as stainless steel. In an interview to CNBC-TV18, Rajesh V Shah, Co-Chairman & MD of Mukand spoke about the latest happenings in the company and his outlook going ahead.

September 22, 2017 / 12:23 PM IST

Mukand stock has been buzzing around. The company produces both alloy steel as well as stainless steel.

In an interview to CNBC-TV18, Rajesh V Shah, Co-Chairman & MD of Mukand spoke about the latest happenings in the company and his outlook going ahead.

Our stainless steel products are long products, said Shah.

He further said that the alloy steel plant in Karnataka which is based on iron ore and metallurgical coal is running at 100 percent capacity as per designated capacity.

All our steel rolling capacities are running at 100 percent, he mentioned.

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Talking about capacity, he said looking at de-bottlenecking operations to increase capacities.

On debt front, he said the joint venture agreement (with Sumitomo Corporation, Japan) will help us reduce our debt.

We are still in the process of selling our land in Thane, he added.

For entire interview, watch accompanying video.
first published: Sep 22, 2017 12:23 pm
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