JSW acquires BSPL, to become India’s largest steelmaker

Friday, 26 March 2021 16:38:07 (GMT+3)   |   Istanbul
       

JSW Steel, one of the largest Indian steelmakers, has announced that it has acquired financially stressed Indian steelmaker Bhushan Power and Steel Limited (BSPL).

According to JSW, this is an important milestone as it is the largest acquisition in the history of the company. The acquisition will accelerate the company’s growth in eastern India, helping it to achieve a production capacity of 45 million mt by 2030.

“JSW Steel is amongst the top class world steelmakers and, with the resources, scale, skills, technology from JSW combined with BSPL’s expertise, I am sure, we will create an enterprise worthy of admiration,” Sajjan Jindal, chairman of JSW Group, said.

JSW Limited is expected to emerge as India’s largest steel producer by the end of the current fiscal year, changing the pecking order of domestic steel producers in terms of capacities, as SteelOrbis previously reported.


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