NEW DELHI: Sajjan Jindal-led JSW Steel on Tuesday said it will acquire 74% state in JSW Praxair Oxygen Pvt Ltd (JPOPL) for ₹240 crore in cash. JPOPL produces industrial gases, such as oxygen, nitrogen and argon. It has two air separation plants, each with a capacity of 2,500 tonnes per day, in the Bellary district of Karnataka. JSW Steel holds 26% of the equity shares of JPOPL and after the acquisition, JPOPL would become a wholly-owned subsidiary of the company.
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