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JSW Steel Reports 23% Growth in Crude Steel Production for August
09/19/2011 - JSW Steel Limited reported the production of 664,000 tonnes of crude steel in August 2011, representing a growth of 23% compared to crude steel production of 539,000 tonnes in August 2010.
JSW Steel Limited reported the production of 664,000 tonnes of crude steel in August 2011, representing a growth of 23% compared to crude steel production of 539,000 tonnes in August 2010. The company said that the higher volume of production is mainly attributable to commencement of 3.2 million tonne/year expansion project at Vijayanagar Works on July 20, 2011
The company also reported the production of 484,000 tonnes of flat rolled products, an 8% increase from 446,000 tonnes in August 2010, and 125,000 tonnes of long rolled products, a 44% increase from 87,000 tonnes in August 2010.
The company was forced to curtail production due to the shortage of iron ore as that resulted from the suspension of mining and transportation of iron ore in Bellary district by the Honorable Supreme Court of India in its ruling dated 29/07/2011.
Since then, the Honorable Supreme Court of India ruled on 05/08/2011 to allow NMDC to mine to the extent of 1 million tons per month from 06/08/2011, which enabled the company to restore production to 80% of installed capacity. Subsequently, steel production was impacted by further a restriction of iron ore supplies by the order from the Honorable Supreme Court dated 29/07/2011 suspending mining and transportation of iron ore in the Bellary district to the districts Chitradurga and Tumkur. As a result of iron ore restrictions, the Vijaynagar plant operated at an average of 75% of installed capacity in August 2011.
Considering the hardship faced by the region’s steel industry, the Honorable Supreme Court of India accepted the recommendation of the Central Empowered Committee to release to the steel industry 1.5 million tonnes of iron ore per month from the existing stock. As the supply of iron ore from this stock is yet to resume, crude steel production continues to be severely impacted in September 2011.
JSW Steel Ltd., belonging to JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interest in mining, carbon steel, power, industrial gases, port facilities, aluminum, cement and information technology. JSW Steel Limited is engaged in the manufacture of flat and long products including hot and cold rolled coils, Galvanized and Galvalume products, auto grade / white goods grade CRCA Steel, and bars and rods. Incorporated in 1994, it has grown to US $9 billion in little over fifteen years. JSW Steel Limited has the largest galvanizing and color coating production capacity in India and is the largest exporter of galvanized products with presence in over 100 countries across five continents.
