Jharkhand and Orissa emerge key areas of interest as Sajjan Jindal’s JSW Ltd announces “it will focus on stressed assets” of the iron-ore rich northern and eastern regions. The company plans on initiating ground work for the greenfield expansion of a 10 MT capacity plant at Odisha and Jharkhand.
Joint managing director of JSW Ltd, Seshagiri Rao said, the company needs to focus on expanding its presence in the North and East of India as it considers its presence in the Western and Southern regions to be adequate.
In 2017, the company announced plans to spend Rs 26,800 crore until 2020 on brownfield and greenfield projects at: the Dolvi facility in Maharashtra (doubling capacity from 5 MT to 10 MT by March 2020, at Rs 15,000 crore), and the Vijaynagar facility in Karnataka (upgrading a blast furnace from 3 MT to 4.5 MT and increasing capacity of its cold-rolled mill-1 complex).
Regarding the company’s interests in Essar Steel’s western presence, Rao said, “We are not considering Essar Steel in our calculations. We have a strong presence in South India and the western state of Maharashtra, which would adequately cover the southern and western regions in the country.”
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Inputs from ET