JSW to invest Rs. 850 cr. in Vijayanagar plant

Tag : cr material




— PHOTO: G. R. N. SOMASHEKAR

COST CUTTING EXERCISE: Y. Siva Sagar Rao, Joint Managing Director and CEO, JSW Steel,addressing a press conference in Bangalore on Monday.

BANGALORE: JSW Steel will invest Rs. 850 crore at its Vijayanagarplant in Karnataka to convert some of the ore waste into a usablegrade. This ‘beneficiation plant’ will help thecompany’s efforts to cut costs, Y. S. S. Rao, Joint ManagingDirector and CEO said here on Monday.
JSW is looking beyond capacity expansion at its steel plants toreach the total production target of 32 million tonnes a year ofsteel by 2020. “Raw material security is vital in this sectorand negotiations are on to acquire mines in Chile and inMozambique,” he said.
“A 10-million tonne a year plant will come up in West Bengaland another with equal capacity in Jharkand. Coal mines near theplant have been allocated to us. These two steel plants togetherwill cost Rs. 80,000 crore,” Mr. Rao said. The Salem plantwas being expanded to double its capacity to two million tonnes ayear. The steel plants in Karnataka and Tamil Nadu together wereprojected to produce eight million tonnes a year by this year end.
Jayant Acharya, Vice President, Marketing, said the per capitaconsumption of steel in India was just around 40 kg but wassteadily going up along with infrastructure building. JSW hasopened a retail outlet here, to become part of a nationwide chainof 50 outlets, selling treated steel for various uses.



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