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JSW Steel announced on Thursday the formation of a wholly-owned subsidiary called JSW Green Steel Ltd to manufacture hot-rolled and cold-rolled steel products. The arm was incorporated on February 27 in Mumbai and is yet to commence its business operations, JSW Steel informed the exchanges.
According to the corporation, JSW Green Steel Ltd is now a wholly-owned subsidiary. "The new entity has been incorporated for manufacturing of hot-rolled and cold-rolled products of steel, which is in line with the main line of business of the company," stated JSW Steel.
Hot-rolled steel is utilised in industries such as automobiles and agriculture, whereas cold-rolled steel is used in manufacturing, building, and household appliances, among other things.
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