Due to iron ore supply issues, JSW SteelÂ’s Vijayanagar plant in Karnataka is currently running at 85 per cent capacity utilisation level. While the Supreme Court has approved the opening of 115 Category A and B iron ore mines in Karnataka, only 15 are up and running.
Tag: Vijayanagar plant
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JSW Steel delays expansion plan
According to media reports, JSW Steel halted its expansion plan of its 10 million tonne Vijayanagar plant in Karnataka to 12 million tonne until such time the iron ore supply improves in the state. The company was to invest Rs 2,695 crore on the expansion project in 2013-14 by borrowing Rs 1,750 crore and using its cash reserves for the remaining about Rs 945 crore