Jindal is planning to merge steel companies

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.