JSW Steel is likely to bid for
Australian coal mine, New Hope Corp in Ipswich, Queensland.
The deal is likely to be worth more
than $5 billion (approx Rs 24,750 crore). JSW will raise the funds
for the acquisition either on its own or through a venture. The New
Hope asset will help the company to secure raw material for its steel
operations and thermal coal to run its energy unit's operational and
upcoming power plants in India.