JSW to become India’s largest pvt sector steel maker

JSW to become India’s largest pvt sector steel maker
PTI
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First Published: Fri, Oct 10 2008. 03 59 PM IST
Updated: Fri, Oct 10 2008. 03 59 PM IST
New Delhi: Metal and mining company JSW Steel is set to become India’s largest private sector steel producer post-capacity augmentation of its plant at Vijaynagar in Karnataka by end of the calendar year.
“On commencement of the expansion project in Q3 of the FY ‘09, JSW Steel will be the largest steel plant in private sector in India with a total crude steel production capacity of 7.8 million tonnes (including one MTPA at Salem)" JSW Group Chief Financial Officer Sheshagiri Rao said.
Presently, SAIL is India’s largest steel producer in the public sector with annual production hovering close to 15 million tonnes, while in private sector Tata Steel tops the list with installed production capacity of 6.8 million tonnes.
Sajjan Jindal-led JSW Steel is in process of expanding its finished steel capacity at Vijaynagar plant in Karnataka to 6.8 million tonnes, against the present 3.8 million tonnes.
It has already commissioned a sinter plant and two blocks of coke-oven batteries as part of the company’s Rs 5,300 crore expansion project at Vijaynagar.
The steel major has also lined up two greenfield projects of 10 million tonnes capacity each in West Bengal and Jharkhand with a cumulative investment of about Rs70,000 crore.
It plans to commence construction work for its West Bengal project in November this year, while that in Jharkhand by early next year.
Rao said JSW Steel intends to reach 32 million tonnes of steel capacity by 2020 for which the company would invest a whopping Rs85,000 crore.
“As of now, we have secured financial resources for capacity expansion at Vijaynagar plant as also adding another three million tonne to it by March 2010,” he said.
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First Published: Fri, Oct 10 2008. 03 59 PM IST