JSW consortium submits bid for Italian plant Ilva

Ray-Ban owner part of consortium

Sajjan Jindal’s JSW Steel, along with three consortium partners, including the owner of the Luxottica Group, has submitted a final bid for Italy’s loss-making 10-million-tonne steel plant, Ilva.

The JSW consortium will be pitted against the one led by ArcelorMittal and Italian steel-processing major Marcegaglia. 

The bid value is not known but is likely to be around $1 billion. The deadline, as of now, for submitting bids is March 4, which is when the Italian government is expected to take a decision.

According to the contours of the arrangement between the consortium partners, it is understood that JSW would hold