JSW Steel in talks for coal asset JVs

JSW Steel is in discussions with domestic steel producers for floating a joint venture for acquiring overseas coking coal properties.

JSW Steel said it is in discussions with several domestic steel producers,including state-run SAIL and RINL,for floating a joint venture for acquiring overseas coking coal properties.

The company is in talks with Steel Authority of India Ltd (SAIL),Rastriya Ispat Nigam (RINL) and Jindal Steel & Power Ltd (JSPL) to form the joint venture,JSW Steel Vice-Chairman & MD Sajjan Jindal said.

“We are discussing together to bid for the good quality coking coal overseas. Yes,this will be a JV company,” Jindal said.

“We are looking at Australia as it has large reserves,” he added.

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