JSW Steel to sell Italian biz as revival fails

12 May 2022 CW Team

JSW Steel will soon put its subsidiary in Italy on the block on as many efforts by the company to revive the business have failed amid rising raw material cost and pressure mounting to make fresh investment to cut emission.

JSW Steel had acquired the second largest steel plant at Aferpi for Rs 451 crore from Algeria-headquartered Cevital in 2018. Having lost the battle with ArcelorMittal then for acquiring a steel plant Ilva SpA, JSW Steel was then very bullish about revival of the stressed Aferpi.

However, the plant could not be turned around despite huge investment to upgrade it and cut-down on cost. The Russian invasion of Ukraine has made matters worse by pushing up the cost all around, sources said.

The Italian unit has reported an EBITDA loss of Euro 6.8 million in December quarter against EBITDA of Euro 6.1 million in September quarter due to certain one-time write-offs and impairment charges.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Real Estate

26 Jun 2026

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..

Infrastructure Transport

26 Jun 2026

Adani Airport City Plans Rs 200 Bn Investment

Adani Airport City Limited (AACL), a wholly owned subsidiary of Adani Airport Holdings Limited (AAHL), has announced a programme to develop integrated airport cities across its airport network. The first phase will involve an investment of more than Rs 20,000 crore and cover around 22 million sq ft across Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati.The development spans over 655 acres across six airports in five states. Nearly 440 acres are located in Mumbai and Navi Mumbai, which will receive close to 70 per cent of the planned investment. The focus reflects the Mumbai Metrop..

Infrastructure Urban

26 Jun 2026

Vedanta contributes Rs 627.22 billion to exchequer

Vedanta Limited contributed Rs 627.22 billion to the exchequer in FY26, according to its 11th Tax Transparency Report. The contribution accounted for 36 per cent of the company’s consolidated revenue from operations and reflected its focus on transparent governance, fiscal discipline and nation-building.The FY26 contribution marked a 13.3 per cent increase over the previous year. Vedanta’s cumulative contribution to the exchequer over the past decade reached Rs 4.83 trillion. The company said the Group ranks among India’s top three private-sector contributors to the national exchequer.Th..