JSW Steel buys 30.5-acre land parcel in Mumbai's Pen

JSW Steel, the flagship company of the JSW Group, has purchased 30.5 acre of land in Pen, about 4 kilometres from its existing 10 Million Tonne Per Annum (MTPA) integrated steel plant at Dolvi in Pen near Mumbai. The company paid Rs 232.2 million for the land parcel and made an advance payment of nearly Rs 148.2 million in December 2018. The land parcel will most likely be used for either the expansion of the company's steel plant or the development of an integrated township. The company recently increased the capacity of its Dolvi plant, which was acquired by JSW Steel in 2010 through the acquisition of Ispat Industries, from 3.3 million tonne to 10 million tonne. The steel manufacturer paid a stamp duty of Rs 13.9 million for the registration of the deal. Also read: Tata to supply Ford with green steel from Netherlands plant JSW Steel signs pact for decarbonisation of steel sector