Mesco plans to acquire steel plants, says CMD

Mesco Steel plans to acquire some plants to tap into the growing opportunities in the domestic market and more than double its production capacity to 5.25 million tonnes, CMD Rita Singh has said. She declined to comment on whether Mesco was eyeing a company facing insolvency proceedings. According to sources, Mesco is interested in Electrosteel Steels, which has a debt of ~10,000 crore, and is also exploring a few options in three Indian states. These plants either have huge debts or are unable to face the tough competition in the market, they said. “Mesco is always interested in acquiring such debt-laden assets,” Singh told