Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
Latest News

JSW Steel to invest additional Rs.17,600 crore to increase its capacity


JSW Steel has decided to inject an additional Rs.17,600 crore, for increasing its steel capacity to 24.7 million tonne per annum (mtpa) by 2020.

Seshagiri Rao, JSW Steel joint managing director and group chief financial officer stated, “Looking at the domestic demand growth, we see a shortage of steel if we don’t expand in the next two years. We have decided to expand our capacity from 18 mt (million tonne) to 24.7 mt, which includes addition of one mt at Vijaynagar and 0.67 mt at Dolvi unit, and also expand our downstream projects by 2020.”

Further he stated that, the overall estimated capex plan of Rs.26,815 crore was announced last year and it is expected to augment it by rs.17,600 crore to implement new projects.

Read EquityPandit’s Technical Analysis of Nifty

Get Daily Prediction & Stocks Tips On Your Mobile