JSW Steel to invest $18 bln in 3 plants

The company is looking to acquire coal blocks in Australia, Africa and Canada.

India's JSW Steel Ltd. plans to set up three 10-mn-tonne steel plants in the east by 2020, vice-chairman and managing director Sajjan Jindal told reporters on Thursday.

The plants, situated in the states of West Bengal, Orissa and Jharkhand, would involve an investment of $18 billion. The company is looking to acquire coal blocks in Australia, Africa and Canada, Jindal said.