Published On:October 10 2008
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JSW Steel firm on expansion mode
Kochi: Amidst talks that expansion plans of Indian steel companies may take a hit due to the ongoing global economic slowdown, Sajjan Jindal-led JSW Steel reiterated the commitment to increase its capacity to 32 million tonnes by 2020.
The company is in an expansion mode and has plans to increase its steel production to 32 million tonnes per annum (MTPA) by 2020, company's Associate Vice-President (Sales and Marketing) Sharad Mahendra said.
'Our new greenfield plants will come up in West Bengal and Jharkhand, with a capacity of 10 MTPA each,' he said.
He said the steel plants in Karnataka and Tamil Nadu together produce around 4.8 MTPA and its capacity would increase by November this year to around 8 MTPA, he said.
Indian steel companies expect the output to grow at 8-9 per cent against the targeted 12-13 per cent for the present year due to the global economic slowdown which has resulted into a slump in demand and decline in prices of the alloy.
The company launched first 'JSW shoppe' here, which would showcase all JSW steel products ranging from hot rolled to colour coated steels, he added.
Talking about JSW Engery, established with a capacity to generate 260 MW of captive power using Flue gases and coal, he said, it was currently setting up base to start operations in Ratnagiri district of Maharashtra and in Rajasthan with a total capacity to generate 2,200 MW. This would be commissioned in two-and-a-half years time, he added.
The group is also foraying into aluminium manufacturing and have entered into an agreement with the Andhra Pradesh Government in this regard, he said.