JSW Steel looks for stressed assets in India & overseas
After the successful acquisition of Italy’s Aferpi, and the winning bid for Monnet Ispat in the domestic market, Sajjan Jindal-led JSW Steel is looking for more distressed assets in India and overseas.
A source in the industry added that the company is evaluating more distressed assets in the US and Europe. “Talks are on with another steel company in Europe,” said the executive.
JSW Steel, which at present has a capacity of 18.1 million tons in India, plans to increase its capacity by nearly 40 percent in two years, taking its volume to 24.7 million tons by 2020.The company’s capacity could even reach the 40-million-ton mark in another three years, as it plans to further expand capacity at its facilities at Vijayanagar in Karnataka, and has drawn up a plan to set up a new facility in Odisha.