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JSW Steel's history can be traced back to 1982, when the Jindal Group acquired Piramal Steel Limited, which operated a mini steel mill at Tarapur in Maharashtra and renamed it as Jindal Iron and Steel Company (JISCO). [6] Soon after the acquisition the group set up its first steel plant in 1982 at Vasind, near Mumbai. [7]
The JSW Group was founded in 1982 when Jindal acquired a re-rolling mill located in Tarapur, Maharashtra, near Mumbai, from Piramal Steel. [5] Following the acquisition, the group renamed it Jindal Iron and Steel Company (JISCO).
Sajjan Jindal (born 5 December 1959) is an Indian billionaire businessman. He is the chairman and managing director of JSW Group of companies; diversified in steel, mining, energy, sports, infrastructure and, software business.
JSW Steel, Jindal Steel and Power Om Prakash Jindal (7 August 1930 – 31 March 2005), also known as O. P. Jindal , was an Indian industrialist , and politician. He was the founder of the OP Jindal Group, a major steel and power conglomerate.
As a result, he was instrumental in developing a new retail strategy for JSW Steel and turning around several of the group's loss-making subsidiaries, including JSW Cement and JSW Steel USA. [11] Jindal led a group that built a 2.3 million-ton auto-grade steel plant in Vijaynagar, Bellary before he went to Harvard University in 2014 to get his MBA.
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.
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The company established its facility in Chandigarh in 1973 to manufacture Tor steel and wire rod. It has 7 manufacturing facilities in India. [7] The company was promoted by Sanjay Singal. [8] [9] Bhushan Power & Steel was acquired by JSW Steel in September 2019. [10] [11] JSW Steel's offer of Rs. 19,700 crores was approved by NCLT. [12]