JSW eyes port asset acquisitions
Published by Joseph Green,
Editor
World Cement,
According to the latest Reuters report, JSW Group is hoping to purchase distressed port assets in India as part of a wider move for a massive expansion of its ports capacity.
The acquisition attempt comes as many of JSW's competitors look to sell assets to pay off debt racked up in recent years, before India's economy began to cool.
Having borrowed heavily to expand its power and steel sections, JSW was named by Credit Suisse last year as one of India's 10 most indebted groups.
JSW Infrastructure currently has a port capacity of 33 million t spread across three ports on the western coast of India. The company plans to increase that six times to 200 million t by 2020.
JSW’s port and cement units both make money, and JSW can raise debt or equity to fund acquisitions.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/indian-subcontinent/17022016/jsw-eyes-port-asset-acquisitions-519/
You might also like
The World Cement Podcast - CleanTech & Venture Capital
Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.
Tune in to the World Cement Podcast on your favourite podcast app today.