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Harsco inks $225M contract with JSW Steel

Keywords: Tags  Harsco Corp., JSW Steel Ltd., mill services, India, steel, expansion, Samuel Frizell

NEW YORK — Harsco Corp. has signed a $225-million multiyear contract with JSW Steel Ltd. to provide onsite services at the Indian steelmaker’s Vijayanagar plant.

Harsco will provide resource recovery and slag management services at the Vijayanagar plant beginning in the second half of 2013.

"This is another major opportunity to extend Harsco’s industry leadership within one of the world’s principal steel-producing economies," Harsco Metals & Minerals Group chief executive officer Galdino Claro said in a statement Thursday. "We continue to build a stronger presence in this strategically important and growing region."

The contract adds to Harsco’s operations at JSW’s Indian plants. The Camp Hill, Pa.-based company already provides industrial services at Vijayanagar and at JSW Ispat Steel’s plant in Maharashtra. JSW is India’s largest steel producer, with a production capacity of 14.3 million tons per year.

A company spokesman told AMM that Harsco plans on further expansion in India, which currently ranks fourth among the world’s largest steel-producing countries, according to data from the World Steel Association.

"We’ve issued a number of new contract announcements and we anticipate further growth down the road in India," the spokesman said. "Clearly they are on a growth expansion curve, and we see good opportunity to build our footprint and work with the very largest steelmakers within that country."

Harsco is looking into deals with other Indian steelmakers, he said, but would not provide details.

Harsco declined to name the length of the JSW contract, but the spokesman said it fell within the five- to 10-year range typical for its contracts.

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