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JSW Steel's arm signs Memorandum of Cooperation to develop steel industry in Texas

JSW Steel's subsidiary -- JSW Steel (USA) Inc -- has signed a Memorandum of Cooperation with Office of Governor, Texas USA to develop and augment the steel industry in Texas. According to the Memorandum between Parth Jindal of JSW Group and Greg Abbott, Governor of Texas in partnership with Texas Enterprise Fund, JSW Steel (USA) Inc has agreed to consider investment of up to $500 million in phases (subject to EPA approval) in developing its steel manufacturing infrastructure in Baytown, Texas USA. As part of this Memorandum, Governor Greg Abbott has also approved $3.4 million grant from the Texas Enterprise Fund to the company.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

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