JSW Steel puts steel plant on hold

| Updated on December 02, 2014 Published on December 02, 2014


JSW Steel said on Tuesday it has "put on hold" building a steel plant in West Bengal due to uncertainty in sourcing key raw materials such as iron ore and coal. The steelmaker had planned to build a 10 million tonnes a year steel plant at a cost of ₹35,000 crore. JSW cited a Supreme Court verdict in September that scrapped most coal extraction permits granted to companies. Analysts will be keenly tracking further developments.

Published on December 02, 2014
This article is closed for comments.
Please Email the Editor