Breaking News: JSW Steel to invest ₹1,282 cr to relaunch its Italian steel mills
New Delhi: Sajjan Jindal-led JSW Steel, on Friday, announced that it is going to invest €143 million, or about ₹1,282 crore, to help relaunch its Italian steel mill in Piombino. The company in a press release said that its subsidiary, JSW Steel Italy SRL, has signed a Memorandum of Understanding (MoU) with the Italian authorities to relaunch the site.
The company further added that the investment will be made to modernize the rail mill at Piombino, doubling the current rail-making capacity to 600,000 tonnes from 300,000 tonnes per annum, helping provide Europe with the most modern, technologically advanced and best-in-class rail mill.
“The investment of €143 million will modernize the rail mill at Piombino," said Sajjan Ji...