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JSW Steel to invest Rs 5000 cr on capital expenditure

By Religare
|

JSW Steel has said that it is planning to invest about Rs 5,000 crore on various capital expenditure projects in this fiscal ending March 2016, media reported.

Commenting on the issue, JSW Steel Chairman and Managing Director Sajjan Jindal told the media, "The company is expected to invest approximately Rs 5,000 crore during FY16 on various capital expenditure programmes."

"The company is also in the process of closing the non-operational foreign subsidiaries i.e. JSW Steel Service Centre (UK) Ltd, Argent Independent Holdings Ltd and JSW Steel East Africa Ltd," he added.

 

Currently, the firm has a capacity of 14.3 million tonnes (MT) across two integrated steel plants in Maharashtra and Karnataka. The company aims to add 4 MT to increase its capacity to 18.6 MT in 2015-16.

Meanwhile, shares of the company were trading at Rs 955 a piece, down 1.99 per cent from the previous close at 10:33 hours on BSE.

Story first published: Thursday, August 20, 2015, 12:30 [IST]
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