JSW to buy Welspun Maxsteel for enterprise value of $165m

Tags: Companies
JSW Steel Ltd has agreed to acquire local steelmaker Welspun Maxsteel Ltd for an enterprise value of 10 billion rupees from Welspun Enterprises to bolster its production capacity.

The equity value of the deal, which is subject to regulatory approvals, was not disclosed. Welspun Maxsteel has an installed capacity of 900,000 tonnes per annum at its plant in Raigad district of Maharashtra.

JSW Steel has an installed capacity of 14.3 million tonnes, and the company plans to raise it to 40 million tonnes in the next decade, the company said in a statement late on Monday.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture