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JSW Steel July production grows 8% to 14 lakh tonne

JSW Steel July production grows 8% to 14 lakh tonne

New Delhi: JSW Steel on Tuesday said its crude steel output grew 8 per cent to 13.78 lakh tonne (LT) during July 2018.

The Sajjan Jindal-led company had produced 12.78 LT crude steel in July 2017, it said in a statement.

The company also registered 41 per cent growth in the output of long rolled products at 3.06 LT as compared to 2.17 LT in the year-ago month, it added.

Output of flat rolled products rose 1 per cent at 9.86 LT as against 9.74 LT in July 2017, it said. Part of $13 billion JSW Group, JSW Steel has an installed steel-making capacity of 18 MTPA.

The company's plant at Vijayanagar in Karnataka is the largest single location steel producing facility in the country with a capacity of 12 MTPA.

JSW Steel has a domestic crude steel capacity of 18 mn tonnes per annum (mtpa) at present. The company aims to expand this production capacity to 23 mtpa by 2020.

The company owns a plate mill in USA and has recently acquired an integrated steel plant. This brings the total capacity based in the USA to 4mtpa. J

SW Steel and Aion Capital have formed a consortium that has won the bid for Monnet Ispat. This acquisition is likely to add significant value to JSW Steel given the low valuation of the bid (bid amount implies ~76 per cent haircut to lenders).

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