【Ferro-alloys.com】:JSW Steel, a leading steel producer in India, continues negotiations to acquire a 20% stake in the Australian coal mining company Whitehaven Coal. Expected to be valued at approximately $1 billion, this deal will contribute to JSW Steel's goals of enhancing raw material security and increasing production capacity.

According to sources familiar with the matter, the discussions are expected to be concluded by early March. It is noted that with this acquisition,JSW Steel aims to secure its coal supply and increase its annual production capacity to 50 million tons by 2030.

Reports also suggest that JSW Steel is actively seeking high-quality coal mines in Australia and other regions worldwide. Additionally,JSW Group is planning to enter the electric vehicle(EV) business in recent times. For this purpose, it is competing to acquire a majority stake in MG Motor India. Last month, it was announced that a 40,000 crore investment would be made in a new commercial and electric car manufacturing project in 0disha.

Furthermore, JSW Steel and JSW Group units announced last week that they would invest approximately 65,000 crore over time to establish an integrated production complex in the Jagatsinghpur region of Odisha.

• [Editor:Alakay]