About half a dozen companies and financial institutions are interested in acquiring a stake in the loss-making and highly indebted Bhushan Power and Steel, people familiar with the development confirmed to FE.
The government has initiated an anti-dumping probe on imports of straight length bars and rods of alloy steel from China following complaints from the domestic industry.
Tata Steel, India’s second-largest private steelmaker, has expressed interest in bidding for debt-ridden Essar Steel, whose lenders have filed for revival of the company under the Insolvency and Bankruptcy Code
Sajjan Jindal’s JSW Steel is eyeing acquisition of steel-making assets in the United States, spurred by its US based steel mill’s improved financial performance after US President Donald Trump’s Make in America policy brought smokestack businesses back into the reckoning.
JSW Steel today said its board has approved the plan to set up a Rs 2,100 crore slurry pipeline in Karnataka to transport iron ore and coal for its 12 MT integrated steel plant in the state.
A consortium led by India’s JSW Steel raised its bid for Italy’s troubled Ilva steel plant, a statement said on Saturday, in a challenge to a group that was declared the winner of the tender process last month, but whose offer faces labour union opposition.
Sajjan Jindal-led JSW Steel got the go ahead to set up its 10 million tonne steel project in the state at Paradip at a cost of Rs 50,000 crore. The steel project when fully operational promises to create around 30,000 jobs.
India may soon mandate the use of local steel in government infrastructure projects worth billions of dollars, sources said, pitching it as a WTO-compliant protectionist measure aimed at further cutting cheap imports, mainly from China.
Sajjan Jindal-led JSW Steel is in the fray to acquire Tata Steel’s loss-making business in the UK. On Monday, Tata Steel had said it has taken forward seven expression of interests ( EoIs) submitted for its UK business to the next stage of the sale process. Read More…