JSW Steel puts steel plant on hold

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.