JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived.
The company does not expect any substantial easing of price of the metal in the domestic market from the current levels, unless the prices of coking coal, a key raw material for the steel manufacturing, moderate in the international market.
The company had earmarked Rs 15,000 crore capital expenditure for 2021-22 as part of its plan to ramp up capacity. Last year, it had also paid over Rs 19,000 crore to conclude the takeover of Bhushan Power and Steel.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
