A mechanical engineer replica bag, Jindal likes to innovate and is admired by peers for his risk-taking ability. His biggest bet was to go for the untested Corex technology for its maiden Rs 4,000-crore steel project in Vijayanagar against the conventional blast furnace route. Jindal bet on Corex because replica bag was cleaner replica bag, used low-grade coal and thus offered higher margins. The plant had teething problems but Jindal didn't give up despite the huge time and cost over-runs. In the past year, Jindal has been busy sewing up the JFE deal replica bag, which often kept him away from indulging in his favourite passion — a game of squash. With the deal in the bag, Jindal can now look forward to playing more often. His investors will hope replica bag he's able to pull off his big plans replica bag time replica bag, and is not stretching himself too thin.
For years, Japanese steel-makers have struggled to supply high-grade automotive steel to auto-makers like Maruti Suzuki replica bag, Hyundai Japan or Toyota, who still import steel for car body panels. With JFE on board replica bag, JSW hopes to breeze through auto-makers' accreditation processes and have a head-start over rival steel firms. "In high-end steel, it's a slow process of accreditation. With JFE technology replica bag, we will get immediate accreditation because replica bag supplies to most Japanese car-makers like Suzuki, Nissan Hermes Handbag bag, Honda and Toyota. It will give their Japanese arms immediate comfort to source from us," says Jindal. "Japanese auto-makers are the most fastidious customers. Any acceptance by replica bag automatically opens doors to other auto makers in the world replica bag," says a senior executive with Tata Steel. "JSW will have access to technology on a continuous basis. State-owned SAIL and Tata Steel also looked at a similar model but could not bring the Japanese on board," says an expert. Tata Steel's cold-rolling mill has a high component of technical support from Nippon Steel replica bag, but there's no equity partnership. Equity will allow JSW to integrate with JFE. In return, JFE gets a pie of the high-growth steel market in the region. "It's a very smart deal replica bag, and a win-win for both. With Tata acquiring Corus and Arcelor Mittal trying to move in a big way, a strong Indo-European alliance has emerged. To counter replica bag replica bag, replica bag was necessary to have an Indo-Japan partnership. Between London and Tokyo, Japan is the common factor. This deal may well determine who dominates the Japanese market replica bag," said a senior steel industry representative. Jindal has been quick to learn from his mistakes. In the past, high debt and interest costs landed him in trouble until lenders bailed him out. Today replica bag, JSW Steel has Rs 17,700 crore of consolidated debt on its books replica bag, which has pushed up its net gearing to 1.71. With replica bag equity infusion, the company expects to bring down net gearing to below 1. "The slowdown in 2001 and debt hangover had Essar Steel replica bag, JVSL and Ispat Industries in the doghouse. The Jindals have emerged strongly from replica bag crisis," says an expert.