JSW Steel in talks with Cevital to acquire mill for $100 mn

JSW Steel in talks with Cevital to acquire mill for $100 mn
01/09/2017 , by , in ALLIED

JSW Steel is in talks with Algeria’s Cevital Group to acquire its Aferpi steel mill in Italy for USD 100 million.

According to media reports, JSW Steel may offer a financial consideration of USD 100 million (about Rs 639 crore) to Cevital Group to acquire the mill.

JSW Steel is planning to increase its manufacturing capacity to 40-45 million tonne by 2030 from the present 18 million tonne.

Aferpi’s activity involves production of a wide range of quality and special steels, with different shapes and sizes for rails, wire rod and bars for railway, automotive, earthmoving vehicles, energy, fastening, springs and welding.

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