JSW holds back K'taka expansion

JSW Steel has put on hold expansion plans of its Vijayanagar plant in Karnataka, which has 10 million tonnes (MT) capacity, due to continued iron ore shortages.

The company, headed by Sajjan Jindal, had plans to expand its Vijayanagar capacity by 2 MT, taking the total capacity to 12 MT per year. The Rs 2,695-crore expansion was proposed to be completed in 2013-14.

“We have put it on hold as far as the expansion of 10 MT to 12 MT is concerned (at Vijayanagar). We want this iron ore situation to improve before we do the expansion,” JSW Joint Managing Director and CFO Seshagiri Rao said.

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