JSW delays commissioning of blast furnace

Corporate Bureau
Posted: 2008-10-15 00:17:53+05:30 IST
Updated: Oct 15, 2008 at 0017 hrs IST

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Mumbai, Oct 14: JSW Steel Ltd has delayed its commissioning of the 3 million tonne per annum blast furnace at its Vijaynagar plant near Bellary by two months owing to current market conditions, said Sajjan Jindal, vice chairman and managing director, JSW Steel Ltd.

The blast furnace which is the biggest in India was suppose to go on stream in October this year and to take the plant's capacity to 7 million tonne per annum by March 2009. He further said that if the current liquidity crisis continues, the industry might see further delays or halt of expansion projects going ahead.

Moreover, commenting on steel prices Jindal said, “All commodity prices have started softening. Steel prices will also probably witness a price cut by the end of this month.”

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» slowdown in economic cycle

Posted by milind kumar vishnu sant on 2008-10-15 11:23:11.405666+05:30
Sir,yes, today's economic cycle has crushed the bottom line,which may come to its normal shape within six to eight months or so. FURTHER ,The invester and financial institute gain confidence to do so. such cycle normally takes place with in two decades ,but it take its original shape by revolving good and bigger shape .milind sant nothing goes wrong if we donot generate fear factor under such sitution

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JSW delays commissioning of blast furnace

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