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JSW Steel is keen to capitalise on the stress in the sector by acquiring distressed alloy companies so that it can expand its capacity faster.
“We are looking at distressed companies for acquisition,” JSW Steel Chairman Sajjan Jindal said.
“JSW is in a position to consolidate this industry. And in case, anywhere in the world, if steel industry has to remain consolidated, there cannot be too many players,” Jindal said.
He said the steel sector is “passing through a difficult phase” with companies facing problems due to a collapse in prices following the 2008 financial crisis from which the global economy is yet to come out.
JSW Steel is on course to achieve its 40 million tonne capacity expansion by 2025 from the present 18 mtpa, he said.
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