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JSW Steel acquires entire stake of Praxair India in JSW Praxair Oxygen

JSW Steel has completed the acquisition of the entire 74% stake of Praxair India in JSW Praxair Oxygen (JPOPL), for a cash consideration of Rs 240 crore. Post the aforesaid acquisition, JPOPL has become a wholly owned subsidiary of the company.

JPOPL is engaged in the business of production and sale of industrial gases such as oxygen, nitrogen and argon and has set up two air separation plants, each with a capacity of 2500 tonnes per day, at Toranagallu, Bellary District in Karnataka. JSW Steel currently sources industrial gases from JPOPL amongst others at prices based on long term contracts.

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