Japan’s second biggest steelmaker, JFE Holdings Inc, is intending to invest about US$1 billion in India’s JSW Steel Ltd.

It will be an acquisition of about less than 15 percent stakes after conversation.

JFE Steel, the steelmaking company of JFE Holdings, and JSW has announced in last November to cooperate by possible stakes acquisition in each other’s company.

JSW have said last month that it may sell about 5 percent to 15 percent to JFE Steel.