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JFE Steel Holdings mulls investment
27 May 2010: Japan's JFE Steel Holdings Inc plans to invest about $7.8 billion (approx Rs 36,660 crore) over the next two years to maintain domestic mills and on investments in emerging economies.
The company, which is in talks with India's JSW Steel on strengthening their ties, did not say how much money will go to overseas investments. It is in advanced talks to buy a 14.06 per cent stake in JSW, which needs cash for its expansion plans, for about Rs50 billion ($1.05 billion).
JFE plans spending over the next three years to 1 trillion yen, about the same amount in the three years ended March 2009.
Source: DNA