The Sajjan-Jindal promoted JSW Steel wants to go solo in the race for bankrupt steelmaker Essar Steel.
JSW Steel has submitted a resolution plan of Rs 19,700-crore to the Committee of Creditors of debt-laden Bhushan Power and Steel Ltd, a source in the know of the matter said.
Bids for Bhushan Power & Steel Ltd (BPSL) may top Rs 21,000 crore as JSW Steel, Tata Steel and Liberty House of the UK are all set to make an aggressive pitch to acquire the company under the bankruptcy process.
JSW Steel’s decision to make a revised offer has cheered lenders who are hoping that they will see lower haircuts while resolving the Bhushan Power and Steel case, the company that is facing bankruptcy proceedings.
Business Line reported tat JSW Steel has restarted coking coal mining in the US after a gap of almost three years. Operations in the mines located in West Virginia were suspended after coking coal prices dropped below production cost.
JSW Steel plans to bid for ArcelorMittal’s Romanian plant, will compete with Ukraine’s Metinvest and Italy’s Marcegaglia
India’s biggest steelmaker JSW Steel is expected to make a bid for ArcelorMittal’s Galati plant in Romania, three sources told Reuters, potentially competing against Ukraine’s Metinvest and Italy’s Marcegaglia.
JSW Steel and Vedanta have expressed an interest to acquire the specialty steel business of Usha MartinNSE -0.83 %, a sale fetching a maximum of ?5,000 crore that will help the Kolkata-based company pare its debt, two people aware of the development told ET.
JSW Steel today inked a pact with Algerias Cevital to buy its Italian arm Aferpi for around Rs 600 crore, a source in the know of the development said today.
Beefed up by strong set of numbers for the previous quarter and rising steel prices, JSW Steel yesterday announced that it will hike up its steel capacity by 37 per cent in the next two years. Clearly, it does not intend to relinquish its position as India’s largest steel maker to Tata Steel.
JSW Steel, part of the $12 billion JSW Group, today announced it will invest Rs 39,715 crore over the next three years in significantly ramping up capacity, including two power plants, pellet project and coke over plants. The announcement was part of a statement made by the company on its fourth quarter performance. The firm […]