The capacity addition follows robust demand for Kamdhenu Structural Steel, its key infrastrucre steel product, in western UP and adjoining areas.
Domestic steel prices have followed the declining global prices with hot rolled coil prices falling 19% yoy in August 2019, a drop of 12% from March 2019, the report said.
The company's plan was stated by Naveen Jindal, chairman, at JSPL's 40th AGM in Hisar on September 27, 2019.
"Global steel prices dropped 13 per cent in the first eight months of 2019 due to weak demand"
Moody's said it expects India's steel consumption to grow at 5 per cent over the next two years.
Tata Steel’s Indian operations currently contribute 19.6 million tonne (mt) or roughly around 57% of its total installed crude steel capacity of 34 mt..
Zinc is the fourth-most used metal worldwide, behind iron, aluminium, and copper.
After the merger, its three arms — Orient Refractories, RHI Clasil and RHI India — will become a single entity, RHI Magnesita India.
ICRA estimates the industry’s operating margin to decline to around 18% in FY20.
Collaboration and support from organisations like JSF will help materialise DGC’s plan for upgrading its infrastructure.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon