Government Approves Sale of Ferro Scrap Nigam Ltd to Japanese Firm Konoike Transport for Rs 320 Crore.

Economy Business

The Indian government has approved the sale of Ferro Scrap Nigam Ltd (FSNL) to the Japanese firm Konoike Transport for Rs 320 crore. This strategic move aims to enhance the operational efficiency of FSNL, which specializes in scrap processing and recycling. Konoike Transport is expected to bring advanced technology and expertise, helping FSNL expand its capabilities in the scrap metal industry. The sale is part of the government's broader initiative to attract foreign investment and boost the country's recycling sector. Officials believe this partnership will create job opportunities and contribute to sustainable development in the region.


      The acquisition by Konoike Transport will modernize FSNL's infrastructure, promoting efficient recycling practices in India.

      This deal signals a positive trend in foreign investment, encouraging other international firms to explore opportunities in India.

     

 

     


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