| Date: |
01-12-2014 |
| Subject: |
JSW Vijaynagar unit to be largest |
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KOLKATA: JSW Group chairman Sajjan Jindal wants to make its Vijayanagar plant the largest single location steel plant in the world. He disclosed this at a meeting of Institute of Steel Development and Growth (Insdag) here in the city.
Currently, the plant has a capacity of 10 million tonne which will be augmented to 12 million tonne shortly. "Earlier, my dream was to make Vijayanagar the largest steel plant in India now I want to make it largest in the world. Its capacity will gradually go up to 20 MT," he added.
Jindal said it is investing Rs 2,000 crore for constructing a slurry pipeline from its own port at Ratnagiri district in Maharashtra to Vijayanagar in Karnataka for bringing imported iron ore. "This 500km-long pipeline will help us cut down cost and the entire investment will be recovered in one year. We shall pump in 25 million tonne iron ore through this pipeline," he added.
The JSW chief pointed out that it is concentrating on cost cutting and optimal utilization of manpower to counter the disadvantages of absence of resources. "Karnataka being land- blocked plant and with no iron ore and coal mine in our kitty there, we improved on our efficiency," he added.
Jindal also echoed the view of Prime Minister Narendra Modi and said he is also against the export of iron ore from India. "We need to export finished product. I do feel we should export value added material like automobile, appliances and not even steel," he added.
Source : timesofindia.indiatimes.com
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