Post acquisition, Jindal welcomes BPSL employees to JSW family

JSW Group chairman Sajjan Jindal on Friday showered praised on the employees of Bhushan Power and Steel Company for their tireless effort in building a greenfield steel plant of the size and scale in the eastern part of the country.

In a letter to BPSL employees post its acquisition, Jindal shared the vision of the JSW Group and pointed to the importance of the takeover that will now help the Group to quickly reach targeted 45 million tonnes of steel production. "I am aware how difficult it is to build a green field steel plant of this size and this asset is indeed a testament to your tireless efforts," Jindal wrote to BPSL employees.

"As a valued member of the JSW family, your contribution  will be key in bolstering our ambitious growth  plans of achieving 45  million tone the synergies we draw  will also  play a pivotal role  in transforming the lives of millions of our stakeholders," he said in the letter.

On Friday, JSW Steel implemented the resolution plan for Bhushan Power and Steel Ltd (BPSL) making the payment of Rs 19,350 crore to the financial creditors to acquire the bankrupt company.

Jindal wrote that BPSL is joining the JSW family at a crucial juncture of its journey, at a time when Steel is required to build the post pandemic infrastructure of the country.

"The Eastern Region of our country has had a long tradition of steel making. For JSW Steel, the acquisition of BPSL marks its entry into this region. We will bring our experience in making world class steel and our global consumer  connect to manufacture products at the BPSL facility for key projects in India and around the world," Jindal said.

The JSW Group chairman also highlighted group's commitment in building an environment where talent is nurtured and honed and life as well as livelihood opportunities find a strong platform.

He said that JSW is successful as it dreams big. "I am confident that our collective strengths and experience will enable us to build and undisputed industry leader in India"