JSW to increase US mills` production capacity to 30%
To cash in on the rise in demand for its products, JSW Steel plans to hike the annual capacity of its mills in the US to 30 percent by the end of the current fiscal.
New Delhi: To cash in on the rise in demand for its products, JSW Steel plans to hike the annual capacity of its mills in the US to 30 percent by the end of the current fiscal.
The country`s largest private steel maker by domestic capacity had in May trimmed production of the pipes and plate-making mills in Texas to 20 percent of their capacities citing a slump in demand amid the economic crisis.
"We want to increase the annual production capacity of
the two US mills to 30 percent by the end of 2009-10," JSW
Steel Joint Managing Director & Group CFO M V S Seshagiri Rao
told reporters in an interview.
The mills have an installed capacity to produce 1.2
million tonnes of plates and 0.5 million tonnes of pipes
"We see an improvement in demand, especially for our
plates picking up from Asia, West Asia and North America. We
expect an improvement in our pipe segment as well," he added.
The steel major has deferred the plans to increase its
pipe-making capacity by 0.5 million tonnes to 1 million tonnes
per annum on account of the meltdown.
The US arm of JSW Steel had in November 2007 bought the
mills, which produce plates and pipes, from Jindal United
Steel, SAW Pipes USA and Jindal Enterprises for USD 810