JSW Steel India plans European expansion

India's JSW Steel Ltd is evaluating opportunities to expand its influence in Europe, including through Italian production Aferpi, JSW Chairman and Managing Director Jindal said.

“This is one of the projects we are considering,” Jindal said on the sidelines of the World Steel Association's annual meeting in Brussels. "This is part of our strategy to expand globally."

JSW is considered one of eight companies interested in acquiring Aferpi. Its owner, Cevital, must submit the final industrial plan to the Italian government for approval by the end of October.

The facility has been in operation for the past few months and its railway factory - the only one currently on the network - has recently been restarted to produce an order of 15,000 tonnes for the implementation of the Ferrovie dello Stato railways plan.

Jindal did not elaborate on potential JSW plans for Aferpi. JSW currently sells 75-80% of its products in India, with the rest going to markets including Africa, South America, Europe and East Asia, he said.

“I think Europe is on the agenda right now,” Jindal said of the company's expansion plans.