JSW Steel says evaluating opportunities amid buyout reports

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New Delhi: JSW Steel on Monday said it continues to evaluate various opportunities, both organic and inorganic, to achieve its long-term vision of becoming a 40 million tonne steel company.

“JSW Steel has a vision to be a 40 million tonne steel company in line with the estimated increase in installed capacity in India to 300 million tonnes in the next decade. Accordingly, the company continues to evaluate various opportunities both organic and inorganic to achieve its long term vision,” JSW Steel said in a BSE filing.

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The company was responding to the media reports that JSW Steel and Blackstone were in talks to buy Monnet Ispat. JSW Steel is a part of the diversified JSW Group which has presence in steel, energy, infrastructure among others.

The firm is a leading integrated steel company in India with an installed steel making capacity of 18 million tonnes per annum (MTPA). Shares of JSW Steel were trading up 2.12% at Rs190 on BSE.