Indian iron ore mining mess - JSW Steel cuts production by up to 40pct - PTI Report
2011-08-04 09:03:44 [Print]
PTI reported that JSW Steel today has cut its productions from its Vijayanagar plant in Karnataka's Bellary district by 35% to 40% due to paucity of iron ore.
Mr MVS Seshagiri Rao JMD & CFO told PTI "We have reduced our steel production from Vijayanagar by about 35% to 40% as we don't have much iron ore inventory left."
When asked whether the plant was moving towards shutdown, Mr Rao said "The company has hardly two three days of iron ore left."
But he refused to elaborate.
JSW Steel has 10.3 million tonnes per annum steel making capacity at Vijayanagar in Bellary of Karnataka and it sources about 50% of its iron ore requirements from Bellary, while another 30% is met from Chitradurga district of the state.
Mr MVS Seshagiri Rao JMD & CFO told PTI "We have reduced our steel production from Vijayanagar by about 35% to 40% as we don't have much iron ore inventory left."
When asked whether the plant was moving towards shutdown, Mr Rao said "The company has hardly two three days of iron ore left."
But he refused to elaborate.
JSW Steel has 10.3 million tonnes per annum steel making capacity at Vijayanagar in Bellary of Karnataka and it sources about 50% of its iron ore requirements from Bellary, while another 30% is met from Chitradurga district of the state.
