Citizen firms eye BCL stake in Pula Steel

Thursday, August 11, 2016

SELEBI-PHIKWE: Two citizen-owned firms, Wealth Generations and Vermas have proposed to buy BCL Mine stake in Pula Steel.

Speaking in an interview, Pula Steel chief executive officer, Ranvir Kumar Verma said his cash-strapped company has already applied for funding from an international financier.

“We have already written a letter of intent to BCL and as one of the requirements for that funding is a letter of approval from BCL as the major shareholder,” he said.

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