JSW Steel to produce 32 MT steel by 2020: Official

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Kochi, Oct 9 (UNI) JSW Steel Limited, the country's second largest private steel producer, aims to increase its production capacity to 32 million tonne (MT) which could meet 16 to 20 per cent of the total steel demand in the country by 2020, a top official said.

Addressing mediapersons here today, Company Associate Vice President (Marketing&Sales) Sharad Mahendra said ''the production capacity would be increased from the current 4.8 MT to 32 MT by 2020, with the commissioning of the ten MT capacity greenfield projects in West Bengal and Jharkhand and capacity enhancement of the existing facilities in Karnataka and Tamil Nadu.'' He said the company was also on course to open two power projects with a total capacity of around 4,000 MW in Maharashtra and Rajasthan.

Mr Mahendra, who was here in connection with opening of the first 'JSW Shoppe' in Kerala, said the new outlet would help the company to tap the huge potential of the steel market in the State.

'' The Kerala steel market is growing at 15 per cent, higher than the national growth of seven to eight per cent and we expect to make inroads into the market in the years to come,'' he noted.

Mr Mahendra said presently there were 10 shoppes with plans to open 50 such shoppes across the country.Subsequently, they would have a pan-India presence with over 600 branded oulets.

''The concept of the shoppe originates from the fact that we want customers to get the right quality of product at the right price and at the right place, and to create an interface with the customers,'' he noted.

On the economic slowdown, Mr Mahendra said ''the slowdown was a global pehnomemon and had affected the Indian steel industry to a certain extent as India cannot be insulated from the general sluggishness in the global market.'' JSW Steel Limited, part of the O P Jindal Group, is one of the lowest cost steel producers in the world and has interests in mining, carbon steel, power, industrial gases and port facilities.

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