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Kolkata, Feb 23

The city-based Visa Steel Ltd, which hit the market on Thursday with its initial public issue (IPO), had not faced any problem with the local tribals of Kalinganagar in Orissa.

Visa Steel's factories are located at the Kalinganagar Industrial Complex. Proceeds of the present would be utilised in a brown-field expansion of the existing facility in the same complex.

According to Mr Vishambar Saran, Chairman of Visa Steel, the company acquired this land in 2004. Subsequently, factory was built and Visa Steel did not face any trouble with the local tribals.

(This article was published in the Business Line print edition dated February 24, 2006)
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