JSW eyes long-term, non-China competitive import deals
Jul 24, 2020 11:00
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Taking a pronounced nationalist stance against the backdrop of political tensions between India and China, the $14-billion JSW Group has said that it will stop all imports from China by Mar'22. The group, working towards this end, is already in talks with vendors in Germany, Brazil, some European countries and the US.
A source, speaking to SteelMint, said that sourcing from non-China vendors will increase the cost of procurement but that a large group like JSW, with a presence in steel, energy, cement and infrastructure, will be able to absorb the extra cost.
However, importantly, the JSW Group is negotiating long-term, three-year contracts