Jindal South to house Sajjan group firms

Sajjan Jindal, son of O P Jindal, has carved out a new identity for companies under his control, by bringing them under the Jindal South West (JSW) group banner.

The JSW group is worth Rs 7,000 crore and recorded a net profit of over Rs 1,000 crore for the year ended March 31, 2004.

The companies to come under the JSW banner are Jindal Iron & Steel Company, Jindal Vijaynagar Steel, Jindal Thermal Power Company, Jindal Power Project, South West Port Limited, Vijaynagar Minerals Pvt. Ltd. and Jindal Praxair Oxygen Company.

Seshagiri Rao M V S, finance director, Jindal Iron & Steel said, "Since all the companies controlled by Sajjan Jindal are based in the South-West region, we have decided to bring them under a single brand identity as JSW group."

The JSW group will however, remain under the larger umbrella group - O P Jindal group.

"Currently, we are looking at only bringing the companies under the JSW banner to have a common brand name. We have yet not take a decision on the formal consolidation of the companies group, with respect to the stake holdings etc," Rao said.