JSW Steel April production up 11 pc at 5.60 lakh tonnes

Tuesday 10 May 2011, 1:27 PM

New Delhi, May 10 (PTI) Sajjan Jindal-led JSW steel today reported 5.60 lakh tonnes of crude steel production for April, 2011, up 11 per cent over the corresponding month last fiscal.

The low cost domestic steel producer also saw an increase of 13 per cent in output of flat products at 3.92 lakh tonnes during last month as compared to April, 2010, the company said in a statement.

As far as long products are concerned, a 10 per cent growth was recorded in April 2011 at 1.16 lakh tonnes, compared to an year-ago period.

Crude steel is the first product derived from solidification of liquid steel, it said.

Flat products are used for ship building, pipes, automotive body panels, white goods, etc, while long products like bars, rods, wires, structural shapes and rails, etc, are mainly used in construction industry.

On annual basis, its crude steel production for 2010-11 had stood at 6.51 million tonnes (MT), showing a growth of 9 per cent over the previous fiscal, while flat rolled products output was recorded at 4.94 MT, up 33 per cent from the production in 2009-10, it added.

Production of long products was recorded at 1.13 MT during the period, up 18 per cent over 2009-10.

The company is likely to become one of the largest steel makers in the country with the commissioning of 3.2 MT per annum (MTPA) blast furnace at its Vijaynagar plant in Karnataka.

At present, the company has a steel making capacity of about 7.8 MTPA at its Vijaynagar and Salem units.

After the new capacity addition, JSW will be able to produce 14.3 million tonnes per annum (MTPA) of steel as a result of its acquisition of 41.29 per cent stake in loss-making Ispat Industries that has a capacity of about 3.3 MTPA.

JSW Steel scrip was trading at 897 on the Bombay Stock Exchange this afternoon, up 0.04 per cent over its previous close.

The company belongs to JSW group, part of the O P Jindal Group that has diversified interest in mining, carbon steel, power, industrial gases, port facilities, aluminium, cement and Information Technology.
(sourced from PTI)