JSW Steel New plant in Salem

The JSW Steel, the Asian leader in the steel industry  planned to invest Rs 1,000 crore for its new project in Salem, Tamil Nadu. This project is initiated catering to the aerospace sector.

The company is also in talks to buy the Cuddalore Port  which uses the MARG Karaikal Port at present for their industrial needs. D Ravichandar, the chief executive of JSW Steel Salem Works, said the capacity would be further increased to 1.3 million tonnes. He added “We would invest Rs 800-1,000 crore. We have already approached the ministry of environment and forests and the terms of reference is expected in a week. We want to take up the expansion project this year,”. Every year, the company imports one million tonnes of coking coal and 1.5 million tonnes of iron ore.It is a great thing for JSW steel plant in salem.

The Salem plant manufactures  various grades of special steel in the long-product category, from 5.5 millimetres (mm) to 200 mm. It is the Asian leader in special-grade steel used in gears, crankshafts and bearings which alsomakes ultra low-sulphur steel for sour-gas pipelines and alloy steel for boilers.

He said that this facility was the first to supply Indian crankshafts to Honda, which was importing till then. The facility also caters to the pipe sector and high-speed rails, which are exported to Italy.

Source<> http://www.business-standard.com/