JSW Group (formerly Jindal South West) is an Indian multinational conglomerate, based in Mumbai.[3] It is led by Sajjan Jindal and founded by Om Prakash Jindal.[4] The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa.[5]
History
1982–1994
The JSW Group was founded in 1982 when Jindal acquired a re-rolling mill located in Tarapur, Maharashtra, near Mumbai, from Piramal Steel.[6] Following the acquisition, the group renamed it Jindal Iron and Steel Company (JISCO). Subsequently, in the same year, the group established its first steel plant in Vasind, near Mumbai.[7]
1994–2005
Jindal Vijayanagar Steel Limited (JVSL) was established in 1994. Situated at Toranagallu in the Bellary–Hospet region of Karnataka, this plant strategically positioned itself in the heart of the high–grade iron ore belt, sprawling across 3,700 acres of land.[8] In 2004, JSW made a strategic move by acquiring Salem Steel Works, adding to its portfolio. The year 2005 witnessed a pivotal moment in group's history when JISCO and JVSL merged to create JSW Steel.[9]
In 1994, JSW Energy Limited was established as power company, focusing on power generation, transmission and trading.[10]
In 1999, JSW Infrastructure was founded to construct and operate airports, shipyards, townships, roads and rail connectivity, inland waterways, water treatment plants, special economic zones and other infrastructural facilities.[11]
2008–2014
In 2008, JSW Group ventured into a rebar joint venture in Georgia.[12] The acquisition of an integrated steel plant at Dolvi, Maharashtra, in 2010 added to their steel production portfolio. And, the acquisition of Welspun Maxsteel in 2014 marked as a diversification in the group's history.[13]
In 2009, JSW Group entered the cement business by establishing JSW Cement and established production facilities in various locations including Vijaynagar, Nandyal (Andhra Pradesh), Dolvi, Jaipur, Shiva (Odhisha), Salboni (West Bengal), and Fujairah (United Arab Emirates).[14]
2018–2020
In 2018, JSW Group purchased Italy's Aferpi.[15] Also, investments were made in a greenfield Texas plant and the takeover of bankrupt Bhushan Power. In 2020, JSW's purchase of Bhushan Power faced legal challenges, but the group pressed on, acquiring stakes and expanding its presence.[16]
On 2 May 2019, JSW Group established JSW Paints with a total investment of inr 6000000000, with ₹250 crore of equity investment and a ₹350 crore debt investment from Axis Bank.[17][18]
2021–2025
In 2021, JSW Steel Italy acquired a stake in GSI Lucchini and set a CO2 reduction target for 2030.[19] In 2022, they planned the merger of JISPL and CSSL subsidiaries and secured approval for a greenfield steel plant in Andhra Pradesh.[20] In 2013, the group entered into a collaboration with Japan's JFE Holdings in the electrical steel sector.[21] In December 2023, JSW Infrastructure announced plans to acquire a majority stake in PNP Port for ₹270 crore.[22]
In April 2024, JSW Steel raised a $900 million syndicated loan from a consortium of eight foreign banks (Singapore's DBS Bank, France's BNP Paribas, UK's HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank) to refinance debt facilities and repay expensive loans ahead of schedule.[23]
Group companies
Listed
- JSW Cement – Currently, it has a capacity of 20.6 MTPA.[30][31] The company is currently engaged in initiatives to develop zero clinker cement, a type of cement that eliminates the need for limestone mining. Instead, it will utilize fly ash and ground-granulated blast-furnace slag, combined with a chemical additive, to produce concrete.
- JSW Energy – JSW Energy has a power generation capacity of 6564 megawatts (MW),[32] out of which 3158 MW is thermal power, 1391 MW is hydropower, 1.75MW pumped storage plant and 10 MW solar power.[33]
Research and development
- JSW School of Public Policy (JSW-SPP), Indian Institute of Management Ahmedabad[80] – The institute was inaugurated in February 2023 with its architectural design led by Rahul Mehrotra.[81][82]
- JSW Technology Hub for Manufacturing of Steel (JSW-TH), Indian Institute of Technology Bombay[83] – The technology hub is actively engaged in several research domains. These include decarbonization, green hydrogen, and solid Waste Management.[84]
- JSW Centre for the Future of Law,
Philanthropy
JSW Foundation is the philanthropic arm of JSW Group, set up in 1987.[88] The foundation works in the field of education, skill building training, healthcare and social development domains. Besides that, the Foundation is actively involved in restoration projects, including the preservation and restoration of significant archaeological ruins like Hampi[89] (and setting up Hampi Art Labs),[90][91] Mughal Gardens of Kashmir (Shalimar Bagh and Nishat Bagh),[92] Keneseth Eliyahoo Synagogue,[93][94]
Gallery
External links
- Official site
Further reading
References
- Steel firms engage with vaccine makers for bulk supply of doses for employees LiveMint, retrieved 25 January 2021^
- Hritam Mukherjee, Manvi Pant, Hritam Mukherjee. JSW strengthens India paints push with $1.6 billion Akzo Nobel unit deal Reuters, 27 June 2025^
- Suresh P. Iyengar. JSW Group bakes a conglomerate pie