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In May 2023, JSW Steel reached an in-principle agreement with JFE Steel to establish a 50:50 joint venture to manufacture cold-rolled grain-oriented (CRGO) electrical steel in India. [46] [47] In March 2024, JSW Steel Italy SRL inked an MoU with the Government of Italy to invest €140 million in restarting production at the Piombino plant. [48]
During the early 2000s recession, heavy losses forced the company, as well as Essar Steel and JSW Steel, into debt restructurings. [2] However, the company was not able to implement a turnaround and in 2010, losses reached Rs 2,500 crore. [2] In 2010, JSW acquired a 41.57% interest in the company for ₹2157 crore and renamed it JSW Ispat Steel.
Majority of the steel companies such as Jindal Stainless, JSW Steel, Bhushan Steel, Lloyd's Metal etc. were established in the 1970s and 1980s. [2] The Indian steel industry was de-licensed and de-controlled in 1991 and 1992 respectively.
In July 2020, JSW Steel Ohio was idled indefinitely pending upgrade or replacement of the electric arc furnace, affecting 160 employees. [18] On March 8, 2021, JSW Steel announced that the upgrade of the electric arc furnace had been completed, the mill would restart the following week. The mill is now capable of producing 12 inch mini-slabs ...
The company manufactures and sells sponge iron, mild steel slabs, rails, mild steel, structural, hot rolled plates, iron ore pellets, and coils. [6] Jindal Steel and Power set up the world's first MXCOL plant at Angul, Odisha that uses the locally available and cheap high-ash coal and turns it into synthesis gas for steel making, reducing the ...
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