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JSW Steel Arm To Raise Rs 26 Bn For Thyssenkrupp Buyout

Jsquare was established four months back and does not have its own operations.

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A JSW Steel group entity aims to raise Rs 26 billion through a three-year zero-coupon bond to fund its Rs 39 billion acquisition of Thyssenkrupp Electrical Steel India from Germany’s Thyssenkrupp Group. The deal will be financed with Rs 26 billion in debt and Rs 13 billion in equity. 
The bond will be raised on January 24 which has an implied yield of 9.45%. The fund raise is at Jsquare Electrical Steel Nashik (JESPL) entity, which was set up in September 2024 and is a subsidiary of JSW JFE Electrical Steel, a joint venture between JSW Steel and Japan’s JFE Steel, Japan’s second-largest steelmaker. 
Both partners will infuse Rs 13 billion in equity into Jsquare and provide a board-backed letter of comfort, to ensure that the company can meet its financial obligations under the bond issuance, according to the terms of the bond. 
Jsquare was established four months back and currently does not have its own operations. After the acquisition, the joint venture plans to rename tkES India to reflect the JSW and JFE brands. 
The transaction will provide JSWSL, exclusive license from Thyssenkrup to manufacture cold rolled grain oriented (CRGO) electrical steel in India, which is restricted to only a handful of steel producers globally snf Jsquare will benefit from managerial, financial, and operational support from both JV partners, said Care Ratings which assigned AA-, Stable rating to the proposed NCDs. 
JSW Steel has a production capacity of 35.7 million tonnes per annum (MTPA), including 1.5 MTPA in the US, while JFE Steel is a globally recognized steel manufacturer with a decades-long collaboration with JSW Steel. 
                                     

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World’s First Book on Carbon Steel Sourcing Launched by Hero Steels CEO

Panckaj N Umrania’s book offers strategic insights into steel sourcing.

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February 27, 2025

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The global steel industry marked a milestone with the launch of “Mastering Carbon Steel Sourcing: From Domestic Suppliers to Global Partnerships,” the world’s first book on carbon steel sourcing. Authored by Panckaj N Umrania, Executive Director of KND Steel, the book was unveiled by Jitendra Sharma, ED & CEO of Hero Steels Ltd.
The event saw participation from industry leaders, policymakers, and representatives from JBM Group, Havells India, Philips Lighting India, Air India, and Northern Railways, underscoring its industry relevance.
Published by Academic Foundation India, the book serves as a guide for business leaders and sourcing professionals, covering supply chain optimisation, quality control, and cost management. It also highlights India’s growing role in global steel sourcing.
Speaking at the launch, Umrania stated, “This book addresses key sourcing challenges and provides practical solutions to help businesses enhance profitability.”
The event concluded with a panel discussion on the future of steel sourcing and supply chain innovation, reinforcing the book’s significance in transforming global sourcing strategies.
                     

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Viva ACP Unveils Bricklyn: A Fusion of Tradition and Innovation

The new ACP series blends classic brick aesthetics with modern engineering.

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1 month ago

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February 27, 2025

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Viva ACP, Asia’s largest aluminium composite panel (ACP) manufacturer, has launched Bricklyn, a new addition to its Santa Fe series. Inspired by the strength of traditional bricks and reimagined with contemporary design, Bricklyn merges heritage aesthetics with advanced technology.
The design draws from Brooklyn’s urban energy and the stacking ingenuity of Jenga, offering structural integrity, aesthetic appeal, and creative flexibility. Available in a range of muted and bold hues, the panels allow architects to craft dynamic, visually striking façades.
Engineered using Stucco Textures and Synchro Technology, Bricklyn ensures durability and resilience with a 15-year warranty, reinforcing Viva ACP’s commitment to quality.
“Bricklyn is more than a cladding solution; it’s a tribute to tradition and innovation,” the company stated, positioning the series as a benchmark for modern architectural design.
               

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HMPL Wins Rs 1 Billion Steel Contract in Maharashtra

The execution of the project is expected to be completed within six months.

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February 27, 2025

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Hazoor Multi Projects (HMPL) has been awarded a contract worth Rs 1.02 billion for steel-related works in Maharashtra. The order, issued by Venkatesh Infra Projects, involves reinforcement steel cutting, bending, fixing, and fabricating structural steel for a bridge under construction at the Versova-Bandra Sea Link project site in Mumbai. The execution of the project is expected to be completed within six months.

HMPL specializes in engineering, procurement, and construction (EPC) services, primarily focusing on renewable energy and infrastructure projects, including roads and bridges. The company has been actively expanding its presence in the infrastructure sector with a strong emphasis on large-scale projects.

In addition to this contract, HMPL is working on plans to establish a 500 MW solar power project in Andhra Pradesh. The proposed project entails an investment of Rs 25 billion, reflecting the company’s commitment to advancing renewable energy initiatives in India.

With a growing portfolio in both infrastructure and renewable energy, HMPL continues to strengthen its position in the industry, leveraging its expertise in EPC services to execute complex projects efficiently. The latest order further reinforces its role in contributing to major infrastructure developments in Maharashtra.

News source: The Hindu Businessline

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