Contrary to the earlier plan, Sajjan Jindal-led JSW Steel Limited (BSE:500228) has decided not quit the struggling Italian market completely but retain the rail mill even while selling other assets in that country. Seshagiri Rao, Joint Managing Director, JSW Steel told BusinessLine that the company is looking for good opportunity to disinvest the Italian asset partly. “We will retain rail mill and want to get out of other businesses.

We have received initial interest from buyers but will take a call after examining it thoroughly,” he added. The Italian operation needs backward integration to make it sustainable. JSW Steel is not keen to make further investment there to set up electric arc furnace and produce billets to feed the units there, said Rao.

As far as rail mill is concerned, he said it can be integrated by supplying billets from India.