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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]
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]
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 ...
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.
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Jindal Stainless Limited is an Indian stainless steel maker headquartered in New Delhi. It is a part of OP Jindal group. The firm has a melt capacity of 2.9 million tonnes per annum which makes it the largest stainless steel producer of India. Incorporated in 1970, it ranks among the top 5 stainless steel makers of the world. [6] [4] [5] [7]
US Steel has agreed to be bought by Nippon Steel, Japan’s largest steelmaker, in a $14.1 billion deal. The deal marks the latest step in a gradual decline for the iconic 122-year old company ...
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).