Tata Steel announced the next phase of growth for its business in India on Wednesday. This includes expanding capacity at Neelachal Ispat Nigam, setting up rolling facilities at its plant in Meramandali, buying a 50.01%...
Tata Steel to acquire majority stake in Thriveni Pellets to boost raw material supply chain
Tata Steel is set to acquire a 50.01% stake in Odisha-based miner Thriveni Pellets, multiple people aware of the development said, without disclosing financial and other details. The proposed deal with Thriveni group...
Japan’s JFE, JSW forge ₹15,750-cr steel JV
JSW Steel on Wednesday announced a joint venture with Japan’s JFE Steel worth ₹15,750 crore, as part of which India’s largest steel producer will sell its subsidiary Bhushan Power & Steel’s...
JSW may sell 50% in Bhushan Power to JFE
JSW Steel is looking at options to sell a 50% stake in Bhushan Power and Steel, the distressed asset that it acquired in 2019. Japanese steelmaker JFE Steel Corp has emerged as the frontrunner for acquiring this stake...
IMFA to buy Tata Steel’s Kalinganagar ferrochrome plant in Rs 610 crore deal
Indian Metals & Ferro Alloys (IMFA) on Tuesday said it is acquiring Tata Steel Limited’s ferrochrome plant in Kalinganagar, Odisha, for ₹610 crore, after which it will become India’s largest and the...
Former ArcelorMittal deal whiz Sudhir Maheshwari buys Gujarat met coke unit
A dealmaker who helped Lakshmi Mittal list his company in 1997 and raise multi-billion-dollar financing to acquire Arcelor in 2006 is now looking to make a bet on the Indian steel industry. Sudhir Maheshwari-led Synergy...
Czech billionaire Kretinsky to sell Thyssenkrupp steel stake as JV plans falter
Czech billionaire Daniel Kretinsky has agreed to sell his 20% stake in Thyssenkrupp’s steel unit and scrap plans for a joint venture for the business, both parties said in a joint statement, paving the way for a...
JSW Steel unit will increase stake in M Res NSW to 83.3%
JSW Steel will purchase an additional economic interest in M Res NSW for $60 million through its subsidiary JSW Steel (Netherlands), effectively increasing its stake in Australia-based Illawarra Metallurgical Coal, the...
Thyssenkrupp gets non-binding bid for steel unit from Jindal Steel International
Thyssenkrupp has received a non-binding bid for its steel unit from a division of Indian conglomerate Naveen Jindal Group, the German company said on Tuesday, the latest twist in the group’s years-long effort to...
Supreme Court reserves verdict on JSW Steel’s Rs 19,700 crore resolution plan for Bhushan Power
The Supreme Court on Monday reserved its verdict on a batch of pleas related to JSW Steel’s Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL). A special bench comprising Chief...
CJI to Form Bench on JSW, lenders’ plea against Bhushan Power liquidation
Chief Justice of India BR Gavia on Monday said he will soon constitute a bench to hear review petitions filed by JSW Steel and lenders of Bhushan Power and Steel (BPSL) against the Supreme Court’s May 2 judgment that...
Bhushan Power liquidation will hurt all stakeholders, JSW Steel and lenders tell SC
JSW Steel has transformed Bhushan Power & Steel Ltd (BPSL) into a viable and going concern after acquiring it out of bankruptcy in 2021, and its liquidation would have adverse ramifications on all stakeholders, the...
