JSW Steel is reportedly set to sign deal worth Rs 1,000 crore to acquire Welspun Maxsteel. The company will also take over debt of Welspun Maxsteel. Currently, JSW Steel’s debt stood at around Rs 32,000 crore.
The deal will help JSW to cut production cost by supplying surplus raw material to make sponge iron cheaper.
JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
