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News CORPORATE WATCH

  • Dec 14, 2012
  • JSW Steel plans to raise output

    JSW Steel, India's largest private sector steelmaker, plans to raise production if iron ore supplies improve. "Our capacity utilisation has come down to 70 per cent in the wake of disruption in ore supplies. If more mines come back into production and NMDC hikes its output, we hope to raise it to 80 per cent. We would like to maintain our guidance for steel production at 8.5 million tonnes for the year," Seshagiri Rao, joint managing director of JSW Steel & group CFO, said.
    After production cuts for over a year, the company said on Thursday it expects iron ore availability to improve with Category A mines resuming production in Karnataka.

    Source - http://economictimes.indiatimes.com