Free Press Journal

Foreign cos keen to buy stake in small steel firms, forge JVs


New Delhi: Anticipating a steady long-term growth in India, foreign steel makers are interested in acquiring stakes in small firms and forge joint ventures for value addition of raw materials.

“Some prominent overseas steel makers are keen to buy Indian steel story that ensures steady growth for next 30 years. They are keen to buy stakes in steel firms here which have 2-3 million tonnes per annum capacity,” Ernst & Young’s National Leader (Mining and Metals) Anjani Agrawal told PTI.

 At the same time, they are also interested in entering the value addition space hoping to test the investment climate in India without committing significant investments.  Agarwal said these companies may even go for a minority stake to enter the supply chain and test the environment.

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