Calcutta: JSW Group, which owns India's largest private steel company JSW Steel, has taken a 49 per cent stake in Brahmani River Pellets (BRPL), months after its rival Tata Steel dropped a plan to acquire it citing the lack of regulatory approvals. BRPL owns a 4-million-tonne (mt) pellet plant in Jajpur and a 4.7mt iron ore beneficiation plant in Barbil, both in Odisha. JSW Techno Projects Management Ltd, a JSW group firm, has executed the definitive agreements. Sources said the JSW deal has the blessings of both Stemcor and the Sarafs and the deal will sail through this time. If successful, BRPL will give a much-needed toehold to the JSW group in Odisha which has rich iron ore reserves.

Source: The Telegraph December 18, 2017 19:52 UTC