JSPL expects to produce 19% more steel this year
2020-09-18 11:41:15 [Print]
Jindal Steel and Power Ltd. (JSPL), one of India's top steel makers, expects to produce a record 7.5 million tonnes this fiscal year, betting on buoyant overseas and domestic demand, a top company official said on Thursday.
JSPL aims to produce 19% more steel in the year to March 2021, as it expects an eight-fold increase in its export orders, Vidya Rattan Sharma, managing director of JSPL said.
The company is likely to export 2.5 million tonnes of steel in 2020/21, up from 300,000 tonnes in the previous year, thanks to higher orders from the world's top consumers such as China and Vietnam, which need semi-finished products, as well as Europe and Saudi Arabia which require flat products, Sharma said.
JSPL aims to produce 19% more steel in the year to March 2021, as it expects an eight-fold increase in its export orders, Vidya Rattan Sharma, managing director of JSPL said.
The company is likely to export 2.5 million tonnes of steel in 2020/21, up from 300,000 tonnes in the previous year, thanks to higher orders from the world's top consumers such as China and Vietnam, which need semi-finished products, as well as Europe and Saudi Arabia which require flat products, Sharma said.
