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[Ferro-alloys.com] India's JSW Steel has announced to acquire Welspun Maxsteel for about US$185.6 million.

The move will help JSW Steel source cheaper raw material, cutting production cost and strengthening its presence in the northern and western markets. 

The company said the production cost could be minimized by ~10% and to secure continuous supply of cheaper raw material as it plans to expand its Dolvi capacity to 5 million tons per year.

Both the companies have signed a MoU following financial due diligence.

• [Editor:Yueleilei]