JSW Steel witnesses a growth in its crude steel production for August 2013
JSW Steel Ltd witnessed a growth of 29% in the production of crude steel for August 2013 from the same period last year. Their total production was 9.85 lac tonnes for August’13 which was 7.63 lac tonnes in August’12. The production of Flat steel was around 8.24 lac tonnes this year witnessing a growth of 60% compared to 5.14 lac tonnes produced in same month of 2012. They however produced 1.28 lac tonnes of long steel which had declined by 13% from the production of 1.48 lac tonnes last year.
On the other hand, the company’s total production of crude steel for July 2013 was 9.91 lac tonnes.
JSW Steel has shut down one of its Corex furnaces at Vijaynagar plant located in Karnataka for relining and enhancement of its capacity. The company also expects to recommence with its production from the same in September 2013. The capacity utilization at Vijaynagar plant remains around 80% because of the shortage of iron ore caused by inordinate delays in the opening category A and B mines even after the order of resuming the mining operations was given by the Supreme Court in April 2013.
JSW Steel Limited belongs to JSW group which is a part of O P Jindal Group. It is one of the lowest cost steel producers along with being one of the largest producers and exporters of coated flat products in the world. It was incorporated in 1994 and has grown up to about USD 11 Billion in the past fifteen years. Its total installed capacity is around 14.3 million tonnes.