JSW Steel acquires 30.5-acre land parcel in Pen near Mumbai.

JSW Group’s flagship company JSW Steel has acquired a land parcel spread over 30.5 acres in Pen, around 4 km away from its existing 10 million tonne per annum (MTPA) integrated steel plant at Dolvi in Pen near Mumbai.

The company has purchased the land parcel for Rs. 23.22 crore and had paid nearly Rs. 14.82 crore as advance payment towards the same in December 2018.

“The company is likely to utilise the land parcel either for the expansion of its steel plant or development of an integrated township,” said one of the persons with direct knowledge of the development.

ET