Gujarat NRE acquires steel e-commerce firm SteelRX

(Press Release, July 20, 2005)

New Delhi : Gujarat NRE Coke group, the largest non-captive producers of low ash metallurgical coke in the country, has added another feather in its cap by diversifying into the e-commerce domain. The group has acquired the Delhi-based steel and metals e-commerce company, SteelRX Corporation, which owns and operates portals like www.steelrx.com. With this acquisition the Gujarat NRE group has broadened its portfolio encompassing manufacturing and information technology business.

SteelRX Corporation is one of the leading steel and metals portal, which acts as a neutral platform for buying and selling of steel and metal products. It was founded by Anurag Saraf of the Ferro Alloys Corporation (Facor) group in June 2000 and has the distinction of being one of the first and only neutral portal in the steel and metal domain. In the last five years the company not only stabilized its operations but also diversified into web hosting and designing for big corporates and government departments as well as software solutions aimed mainly at small and medium enterprises.

Speaking about the acquisition, Mr Arun Kumar Jagatramka, Vice Chairman and Managing Director of Gujarat NRE Coke Limited and Chairman SteelRX said, �Gujarat NRE group is proud to venture into the e-commerce domain after establishing its mark in the coke and coal business. We have acquired mines in Australia, have plants in India and with an e-commerce company now in our portfolio the globe would be our horizon�. Mr Jagatramka said that in the days to come SteelRX would plan to launch similar portals for trading in minerals. He said that the company would also be exploring newer methods to provide rich information on these industry segments through its websites and newsletters, both electronic and print.

www.steelrx.com today offers a host of industry information relating to the steel sector through its website, which has been appreciated by the industry. It also brings out a weekly e-newsletter and monthly Steel Communique in print format.

About Gujarat NRE Coke: Gujarat NRE Coke�s manufacturing facility is located at Khambhalia, Jamnagar, with an installed capacity of 3.58 lakh tonne per annum. It has also setup a Greenfield plant at Bhachau in Gujarat with an installed capacity of 3.24 lakh tonne per annum in 2005. The company has also promoted Bharat NRE Coke Limited, which is setting up a unit at Dharwad, Karnataka with a capacity of 3.24 lakh tonne per annum, taking the cumulative coke capacity of the group over 1 million MT per annum.

After Successful acquisition of South Bulli Coal mine (renamed as NRE no 1 colliery) in New South Wales, Australia in Dec 2004. The company recently bought a coal mine in Australia, its third acquisition there in the last six months. It has taken on lease the entire old Avondale Colliery and part of Huntley Colliery in the Southern Coalfields of New South Wales, Australia and will spend Australian dollar 80 million for the acquisition and development of mines, which have recoverable reserves to the tune of 96 million tonne.