T S Global Holdings Re, formerly T S Global Mineral Holdings Pte, a wholly-owned subsidiary of Tata Steel Limited, had entered into an agreement with Oman National Investments Development Company Tanmia and the existing shareholders of Al Rimal to transfer its 19% shareholding in Al Rimal to Tanmia thereby divesting its equity stake in Al Rimal from 70% to 51%. Tata Steel Limited, through T S Global Holdings Re Ltd, has concluded the divestment of its 19% equity stake in Al Rimal to Tanmia on 3 October 2022, thereby reducing its shareholding from 70% to 51% in Al Rimal. Oman’s Al-Bahja Group and India’s Tata Steel had formed a joint venture to develop the Uyun limestone deposits near Salalah in southern Oman in 2008. Tata Steel will took 70% stake in the joint venture company, Al-Rimal Mining, through its subsidiary TS Global Minerals Holding. Al-Rimal Mining was to develop and operate the mine. The mine was expected to produce 10 million tonnes of limestone over the three to four years.
T S Global Holdings Re, formerly T S Global Mineral Holdings Pte, a wholly-owned subsidiary of Tata Steel Limited, had entered into an agreement with Oman National Investments Development Company Tanmia and the existing shareholders of Al Rimal to transfer its 19% shareholding in Al Rimal to Tanmia thereby divesting its equity stake in Al Rimal from 70% to 51%. Tata Steel Limited, through T S Global Holdings Re Ltd, has concluded the divestment of its 19% equity stake in Al Rimal to Tanmia on 3 October 2022, thereby reducing its shareholding from 70% to 51% in Al Rimal. Oman’s Al-Bahja Group and India’s Tata Steel had formed a joint venture to develop the Uyun limestone deposits near Salalah in southern Oman in 2008. Tata Steel will took 70% stake in the joint venture company, Al-Rimal Mining, through its subsidiary TS Global Minerals Holding. Al-Rimal Mining was to develop and operate the mine. The mine was expected to produce 10 million tonnes of limestone over the three to four years.
