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