Premier Peter Malinauskas meets JSW Steel chairman Sajjan Jindal in Mumbai, India

Premier Peter Malinauskas has met with the world’s most valuable steel firm owner at his Mumbai mansion.

Premier Peter Malinauskas has wooed the boss of the world’s most valuable steelmaker at his Mumbai mansion in a bid to entice his interest in a Whyalla buyout.

JSW Steel chairman Sajjan Jindal, labelled the Man of Steel by Fortune India, entertained Mr Malinauskas at his home on Thursday night.

His conglomerate this week became the world’s highest-valued steelmaker, with a market capitalisation of more than $US30bn ($47bn).

Mr Malinauskas, who also met with Mumbai-based Tata Steel and India’s Ministry of Steel, said the Whyalla steelworks and associated mines were attracting strong global interest.

“With a significant financial package on the table from the state and federal governments, the Whyalla steelworks is an asset with exceptional potential,” he said.

“While in India, I have taken the opportunity to meet with JSW Group chairman Sajjan Jindal at his residence in Mumbai to outline the Whyalla steelworks opportunity.

“Mr Jindal was very generous with his time and receptive to the state government’s vision for the Whyalla steelworks.”

Premier Peter Malinauskas and JSW Steel chairman Sajjan Jindal at his Mumbai home.

Sanjeev Gupta’s GFG Alliance was spectacularly ousted as Whyalla steelworks operator on February 19 in a bombshell state government move to seize control, install administrator KordaMentha, pay creditors and seek a new owner. Federal and state governments then stepped in to announce a $2.4bn rescue package.

Administrator Sebastian Hams told a “One Whyalla” meeting on Wednesday morning that extensive work was still needed at the steelworks but there were “10 to 12 reputable, interested parties” in buying the business.

Mr Malinauskas talked up JSW’s operations, saying the firm had “state-of-the-art steelworks facilities in India and abroad, including in the US and Italy”.

“Tata Steel is also one of India’s largest steelmakers and I met with Tata’s leadership at their headquarters in Mumbai. Tata Steel is a leading global steel manufacturer headquartered in India, and has a strong presence in Europe and Asia,” he said.

“The state government is determined to see a new owner for the steelworks which shares our vision for Whyalla and has the financial capacity and proven capability to make it a reality for the long term.”