Jindal is planning to merge steel companies
According to the latest news in the market, the Sajjan
Jindal group is planning to merge
Jindal Vijaynagar Steel Ltd (JVSL) and
Jindal Iron & Steel Company Ltd (JISCO) in order to consolidate its presence as a steel giant.
The officials from JVSL state that the merger will gain officiality after a negotiation is held with JISCO on 22 October 2003.
Furthermore, during the negotiations prepayment dues of Rupees 3.834 billion ($84.7 million) to foreign lenders will be discussed.