General Announcement::Formation of a Wholly owned subsidiary of JSW Steel Limited

Issuer & Securities

Issuer/ Manager
JSW STEEL LIMITED
Securities
JSWSTEELUS$500M4.75%N191112 - XS1133588233 - 20PB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
31-Oct-2017 23:18:20
Status
New
Announcement Sub Title
Formation of a Wholly owned subsidiary of JSW Steel Limited
Announcement Reference
SG171031OTHR5MC8
Submitted By (Co./ Ind. Name)
JSW STEEL LIMITED
Designation
Company Secretary
Effective Date and Time of the event
31/10/2017 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board has in its meeting held today approved to form a wholly owned subsidiary of the Company by the name of JSW Utkal Steel Limited or such other name as may be approved by the Registrar of Companies, with an initial investment of upto Rs.150 Crores to undertake preliminary studies and for other costs.

The Company as a part of its growth strategy proposes to set up a steel plant in the State of Odisha. Odisha provides a wonderful opportunity to build one of the World s lowest cost & port based pellet & steel producing facilities and could be the next destination in Company s growth path to achieve its vision.

Attachments

outcomeofboardmeeting.pdf
Total size =83K