Help Desk -
9958816305, 9810335381

JSW Steel plans to double capacity - Mr Seshagiri Rao

Steel News - Published on Thu, 26 Apr 2018

Image Source: SteelGuru
Bloomberg Quint reported that JSW is confident of retaining size leadership even if none of its current acquisition plans succeed. Seshagiri Rao, joint managing director and group CFO of the company, said “Expansion of current manufacturing facilities and the plan to build a new plant in Odisha will take JSW Steel Ltd to 40 million tonnes per annum from the current 18 mtpa over the next five years or so.”

He said in an interview with BloombergQuint that “An additional 5 mtpa capacity at JSW’s factory in Dolvihat will be ready by March 2020. The company also intends to add 4 mtpa to the 12 mtpa facility at Vijayanagar facility in 24 to 30 months. Another 1 mtpa will be added when the National Company Law Tribunal approves JSW Steel’s resolution plan for Monnet Ispat Ltd.”

He added that “The company is also working on a new 12 mtpa plant in Odisha. He told “We have done a lot of preliminary work there, getting approvals and all that. So that may take some time, because it's a greenfield project.”

He said “In the meantime, if we succeed in any of the IBC cases, I think it [capacity] can accelerate further or go beyond 40 mtpa. This is how we are looking at our growth story.”

Source :

Posted By : Amom Remju on Thu, 26 Apr 2018
Related News from Steel segment