JSW Steel Acquires Bhushan Power & Steel Ltd
Very proud that with the acquisition of Bhushan Power and Steel Ltd., we have made our entry in Odisha-East India and are now the country's leading Steel Maker.
On behalf of all @TheJSWGroup I am happy to welcome the employees of #BPSL to the JSW Family!
— Sajjan Jindal (@sajjanjindal) March 26, 2021
From the desk of Chairman
It is indeed a great pleasure to share with you that JSW Steel Ltd has acquired Bhushan Power and Steel Ltd under the provisions of insolvency Bankruptcy Code 2016. I heartily welcome you all to the JSW Group. where we are committed to building a strong and self-reliant India. This is an important milestone as is the largest acquisition in the history of JSW Steel. This acquisition not only aligns with our core business and purpose but also establishes our presence and accelerates our growth vision in eastern India.
I am aware how difficult it is to build a green-field steel plant of this size and this asset is indeed a testament to your tireless efforts. JSW Steel is amongst the top class world steel makers and with the resources, scale, skills, technology from JSW combined with your expertise, I am sure, we will create an enterprise worthy of admiration.
As a valued member of the JSW family, your contribution will be key in bolstering our ambitious growth plans of achieving 45 MTPA capacity well ahead of the 2030 timeline. The synergies we draw will also play a pivotal role in transforming the lives of millions of our stakeholders.
You are joining us at a crucial juncture of our journey: it comes at a time when Steel is required to build the post-pandemic infrastructure of our nation. The Eastern region of our country has had a long tradition of steel-making. For JSW Steel, the acquisition of BPSL marks its entry into this region. We will bring our experience in making world-class steel and our global consumer connect to manufacture products at the BPSL facility for key projects in India and around the world.
While this is a strong business case for us, this also leads us to play an integral role in the Eastern region's sustainable development agenda. We believe in inclusive growth - for our people and communities at large, and are committed to building an environment where talent is nurtured and honed, and life as well as livelihood opportunities find a strong platform.
Our success story so far has been predicated on our ability to dream big. I am confident that our collective strengths and experience will enable us build an undisputed industry leader in India and actively participate in the nation's journey of self-reliance.
- Sajjan Jindal - Chairman and MD of JSW Group