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JSW Steel in iron ore deal with Chilean co

JSW Steel Limited has entered a joint venture with Chile’s Minera Santa Fe...

JSW Steel Limited has entered a joint venture with Chile’s Minera Santa Fe, controlled by a local entrepreneur, Leonardo Farkas Klein. The JV company will develop iron ore mines and other projects in South America, including Chile. An investment of around $500-million is being earmarked in this venture including development of new port capable of handling Super Capsize and Panamax size ships. While JSW Steel holds a majority stake of 70 per cent through its Netherlands-based subsidiary, the other JV partner holds the balance 30 per cent.

First published on: 01-02-2008 at 12:00:33 am
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