JSW Steel Ltd.

JSW Steel has reportedly joined one of two investor groups vying to take over Italy’s loss-making Ilva steel plant. The steel firm owned by billionaire Sajjan Jindal has signed an agreement with Italian state lender CDP, businessman Leonardo del Vecchio’s holding company and steelmaker Arvedi to make the bid.

Italy’s government has been trying to find a bidder for the plant, Europe’s largest by output capacity, since taking it over last year in a bid to save jobs and clean up its polluting factories. The world’s largest steel producer Arcelor Mittal has also offered to buy Ilva, in a joint bid with Italy’s Marcegaglia.

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.