Deal reached in Pula Steel legal hurdle

Pula Steel, which was the country’s pioneering steel plant, was built at a cost of P130 million in 2015 and entered liquidation in October 2017 having operated in fits and starts due to financial and technical challenges, including shortage of its raw materials. Creditors owed about P100 million were left in the wake of the plant’s closure.

Pula Steel liquidator, John Hinchliffe told Mmegi that the dispute that threatened the sale had been cleared for now and a winning bidder identified.