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Sesa Goa acquires 51% stake in Western Cluster Limited (WSL)
Sesa Goa will acquire 51% stake in Western Cluster Limited (WSL), Liberia, for a cash
consideration of US$90mn (approximately `400cr). WCL will develop the Western Cluster
iron ore project in Liberia, which includes development of iron ore deposits and the
required infrastructure for export of iron ore. WCL has potential iron ore resources of over
1bn tonnes (~330mn tonnes of saleable product) and close proximity to existing port
infrastructure and access to land for railway corridor. However, currently we await for
details such as production timelines and cost of production. Meanwhile, we maintain our
Buy rating on the stock with a target price of `335.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Sesa Goa acquires 51% stake in Western Cluster Limited (WSL)
Sesa Goa will acquire 51% stake in Western Cluster Limited (WSL), Liberia, for a cash
consideration of US$90mn (approximately `400cr). WCL will develop the Western Cluster
iron ore project in Liberia, which includes development of iron ore deposits and the
required infrastructure for export of iron ore. WCL has potential iron ore resources of over
1bn tonnes (~330mn tonnes of saleable product) and close proximity to existing port
infrastructure and access to land for railway corridor. However, currently we await for
details such as production timelines and cost of production. Meanwhile, we maintain our
Buy rating on the stock with a target price of `335.
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