JSW-JFE JV to Acquire tkES India, Expanding Steelmaking Capabilities

JSW Steel, India’s leading steel producer, and JFE Steel Corporation, a major Japanese steelmaker, have announced plans to acquire tkES India, a leading engineering, procurement, and construction (EPC) company specializing in the steel industry. This strategic move aims to strengthen the joint venture’s capabilities in steelmaking and expand its footprint in the Indian market.

The acquisition of tkES India will provide the JSW-JFE JV with a significant boost in EPC expertise, allowing them to execute large-scale steel projects more efficiently and cost-effectively. tkES India’s proven track record in the Indian steel industry will complement the JV’s existing strengths and enable them to undertake complex projects with greater confidence.

“We are excited about this acquisition, which will further enhance our capabilities in the Indian steel market,” said  Managing Director of JSW Steel. “tkES India’s expertise in EPC will be instrumental in executing our growth plans and delivering value to our shareholders.”

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JFE Steel Corporation also expressed its enthusiasm for the acquisition, highlighting the strategic fit between the two companies. “This investment aligns with our long-term strategy of expanding our presence in the Indian market,” said a senior executive at JFE Steel Corporation. “We are confident that the combined strengths of JSW and JFE will enable us to achieve significant growth in India.”

The acquisition of tkES India is expected to create new opportunities for both JSW and JFE Steel, as they work together to capitalize on the growing demand for steel in India. The JV’s expanded capabilities will allow them to offer comprehensive solutions to customers across various industries, including infrastructure, automotive, and construction.

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