The fate of JSW Steel’s businesses in Italy largely depends on contracts from Italian railway authorities, failing which it will look at other alternatives, a top official said.
JSW Steel has so far failed to revive the company it acquired in 2018, and rising raw material cost and geo-political issues, including the Russia-Ukraine crisis, has not helped matters either.
The losses have reduced. The loss is majorly attributed to rail orders that are not sustainable. We are striving for more rail orders. If those come, it’s fine, otherwise some alternatives have to be thought of, JSW Steel Joint MD & Group CFO Seshagiri Rao told PTI.
