Joint Venture19 Nov 2024, 11:12 pm
JSW Steel Italy SrL Signs Commercial Agreement with Metinvest Adria for Euro 30 Mn.
AI Summary
JSW Steel Italy SrL, a subsidiary of JSW Steel Ltd., has signed a Commercial Agreement with Metinvest Adria S.p.A. The agreement, which is in line with a previous MoU, requires Metinvest to pay a release fee of Euro 30 Mn. to JSW Steel Italy Piombino SpA. The performance and transfer of rights to Metinvest are subject to certain procedures with the Government and Institutions within a specific timeframe. This agreement is a step towards the realisation and execution of the Accordo Di Programma(AdP or The Program Agreement).
Key Highlights
- JSW Steel Italy SrL signs Commercial Agreement with Metinvest Adria for Euro 30 Mn.
- The agreement is in line with a previous MoU and will lead towards the realisation and execution of the Accordo Di Programma(AdP or The Program Agreement).
- Metinvest is obliged to pay a release fee of Euro 30 Mn. to JSW Steel Italy Piombino SpA.
- The performance and transfer of rights to Metinvest are subject to certain procedures with the Government and Institutions within a specific timeframe.
- JSW Steel is a leading integrated steel company with a capacity of 29.7 MTPA in India and the USA.