New Delhi, 4 September: Companies promoted by Jindal brothers ~ JSW Steel and Jindal Steel and Power (JSPL) ~ will for the first time compete directly with each other as they prepare to bid for the Indian assets of UK-based Stemcor.
The two firms promoted by Sajjan (JSW) and Naveen (JSPL) will be the among the 9-10 parties interested in Stemcor’s assets, estimated at $800 million.
Both the brothers have so far avoided venturing directly into each other’s turf despite being major players of steel industry. Their product offerings as well as target markets are different. JSW Steel has bigger presence in western and southern India, while JSPL has bigger presence in eastern and northern India. pti