JSW Steel plans bid for Arcelor’s Romanian plant

Mumbai : JSW Steel is likely to make a bid for ArcelorMittal’s Galati plant in Romania, according to sources. The world’s biggest steelmaker ArcelorMittal has had to put six European assets up for sale to get approval from European competition authorities for its purchase of Italy’s giant Ilva plant. Ukraine’s Metinvest and Italy’s Marcegaglia are also in the fray for the Galati plant. The combined value of the assets up for sale is estimated to be $752-940 million and Galati.