JSW Steel

JSW Steel is close to signing a strategic alliance with a European steel company that could involve the foreign firm picking up a minority stake and offering technology to help Indian third largest steel maker to make speciality steel products. this is the first - of - its kind deal in domestic steel industry. JSW Steel will issue fresh shares, amounting about 5-10% of its equity, to the foreign company. such a stake sale could fetch JSW around Rs 1000 -2000 crore. the focus of the collaboration is adopt technology that would enable JSW to make niche products such as auto grade outer panels for cars, which is currently not made by any other steel company in India. such products typically command a premium of over 30% over the base grade category, that is hot rolled coils. JSW is one of the lowest cost steel producer in the world and currently makes flat and long products. the $ 3.5 billion company has the country's largest galvanising and colour coating production facility, and export galvanised products to 100 countries across five continents.