Jindal Saw shareholders have approved a proposal for entering into a contract worth up to ₹10,000 crore with group firm JSW Steel, from which it purchases raw material.
The proposal for related party transaction was cleared by its shareholders through a special resolution last month.
Jindal Saw is a part of the $18-billion OP Jindal Group and makes large diameter submerged as well as spiral pipes. JSW Steel, also a part the group, is the country’s leading integrated steel producer with a capacity of 14.3 mt a year. The approval is for Jindal Saw to “enter into a contract(s)/arrangement(s)/transaction(s) with JSW Steel, a related party...up to a maximum amount of ₹10,000 crore from the financial year 2014-15 and onwards,” Jindal Saw said in a regulatory filing.
Source: Hindu Business Line
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
![Steel Insights](/assets/images/news/coal-insights.jpg)
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
![Steel Insights](/assets/images/news/ICMW_Jan09.gif)
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
![Steel Insights](/assets/images/news/ISMW.gif)
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
![Steel Insights](/assets/images/news/SteelInsights.jpg)
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.