Joint Venture25 Mar 2025, 07:50 pm
JSW Steel to Transfer Salav Unit to JSW Green Steel Limited for Green Steel Plant
AI Summary
JSW Steel Ltd. has approved the proposal to transfer its Salav unit to JSW Green Steel Limited, its wholly owned subsidiary, on a Slump Sale basis. The Salav unit, located at Salav Village of Raigad District, Maharashtra, has a Direct Reduced Iron (DRI) capacity of 0.9 MTPA. The transaction is valued at Rs. 2,233 crores and is expected to be completed by 31st March, 2025. JSW Green Steel Limited was incorporated to set up a 4 MTPA integrated Green Steel plant in phases, in line with JSW Steel's plan for reducing its carbon footprints.
Key Highlights
- Transfer of Salav unit to JSW Green Steel Limited
- Slump Sale Basis transaction
- Value of transaction: Rs. 2,233 crores
- JSW Green Steel Limited to set up a 4 MTPA integrated Green Steel plant
- Part of JSW Steel's plan for reducing carbon footprints