JSW Steel to borrow $750 million to double its steel output: Report
Earlier this week it was reported that JSW Steel is in talks to buy a 20 per cent stake in a coal mine owned by Australian firm Whitehaven Coal at a valuation of up to $1 billion for the stake.
- Feb 21, 2024,
- Updated Feb 21, 2024 8:56 PM IST
JSW Steel, controlled by Sajjan Jindal, is planning to borrow $750 million for capital expenditure purposes as the company is looking to expand its operations in a major way. JSW Steel Ltd, which is part of the $23 billion JSW Group, has sent out notices to lenders, Bloomberg News reported on Wednesday. The loan’s tenor and pricing will be finalised later as the deal unfolds.
Earlier this week it was reported that JSW Steel is in talks to buy a 20 per cent stake in a coal mine owned by Australian firm Whitehaven Coal at a valuation of up to $1 billion for the stake. The transaction could close in March if talks between the companies are successful.
JSW Steel has been planning to increase its capacity to 50 million tonnes per annum by 2030, using acquisitions to secure raw materials to meet its target. The company is scouting for high-quality coal mines in Australia and other places in the world.
JSW Steel, controlled by Sajjan Jindal, is planning to borrow $750 million for capital expenditure purposes as the company is looking to expand its operations in a major way. JSW Steel Ltd, which is part of the $23 billion JSW Group, has sent out notices to lenders, Bloomberg News reported on Wednesday. The loan’s tenor and pricing will be finalised later as the deal unfolds.
Earlier this week it was reported that JSW Steel is in talks to buy a 20 per cent stake in a coal mine owned by Australian firm Whitehaven Coal at a valuation of up to $1 billion for the stake. The transaction could close in March if talks between the companies are successful.
JSW Steel has been planning to increase its capacity to 50 million tonnes per annum by 2030, using acquisitions to secure raw materials to meet its target. The company is scouting for high-quality coal mines in Australia and other places in the world.