Road to insolvency: Despite setback, JSW Steel on asset-buying spree

Sajjan Jindal-led JSW Steel’s hopes of bringing in additional capacity through the buyout of companies undergoing insolvency resolution may not have fructified, but the company continues to look at investment opportunities in the domestic and overseas market. 

Last week, Jindal announced two investments of $600 million in the US. It is also looking at Europe for more investment. “Our plans for acquisition in Europe are on,” Seshagiri Rao, joint managing director and group chief financial officer, JSW Steel, said. 

This is not the first time Jindal has been on an asset-buying spree. In 2010, the firm had acquired Ispat Industries at Dolvi