JSW Steel Likely To Acquire Jindal SAW''s Plate Mill In US

The board of JSW Steel Ltd is meeting to consider buy out of a plate mill in the US.The board will go through the due diligence reports on the plate, double jointing and coating and pipe mill facilities of Jindal SAW, which is owned by Mr Prithviraj, elder brother of Mr Sajjan Jindal, Vice-Chairman and Managing Director, JSW. Jindal SAW''s plate mill has a rolling capacity of 1.5 million tonnes and caters to the US market.

Of late, Mr Sajjan Jindal said that lower inflation reported recently is expected to result in a lower interest rate regime which will spur growth in the automobile and retail sector, a big positive for the steel industry.