JSW Steel, which announced an alliance with Japan’s JFE Steel on Thursday, is seeking partners for the group’s cement business. It has also been approached by international aluminium companies for a joint venture with JSW Aluminium.
Seshagiri Rao, joint managing director and group CFO, JSW Steel, told DNA, “I am not denying talks with other cement makers for a possible alliance”. He, however, declined to name the companies JSW is in talks with.
JSW Cement, which looks after the group’s cement business, was set up in 2007. It is setting up a 4.5 million tonne slag-based clinker in Andhra Pradesh.
Construction is currently on, and the Rs 1,900 crore project is likely to be completed by 2011.
The JSW group has diversified interests in steel, energy, minerals and mining, aluminum, infrastructure and logistic, cement and information technology.
For the aluminium business, Rao denied bringing any partner on board at present. “A lot of international aluminium companies have approached JSW but we are currently not looking for a partner,” he said.
He said it is too early too comment on future partnerships as the aluminium project has a long way to go.
Sources in the company confirmed that talks with some international aluminium majors are on.
World aluminium leader Rio Tinto Alcan, which produced 4 million tonne of aluminium in 2008, is also said to be in talks with JSW for providing technology for the refinery and a possible equity stake in the project.
Rao, however, declined to confirm any name.
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