JSW Steel, Country’s largest private sector steel maker by domestic capacity, announced that its crude steel production has increased by 53% to 5.21 lakh tonnes during August. The rise in production is mainly due to the heavy demand from automobile and construction sector.
JSW Steel, on Friday, in a statement to BSE said that crude steel production in August has reached a record height as it was the highest monthly production recorded since the beginning of the company. For the corresponding period last year, company had reported a production of 3.41 lakh tonnes of crude steel.
In August, the company has seen an 8% increase in the production of flat-rolled products and a remarkable 159% increase in the production of long-rolled steel products.
Production of Flat-rolled products surged to 3.02 lakh tonnes in August as against 2.80 lakh tonnes in August 2008, whereas, production of long-rolled steel products climbed up to 74,000 tonnes in August 2009 as compared to 28,000 tonnes last year.
Earlier this year, JSW Steel has boosted the production capacity of its Vijaynagar plant in Karnataka to 6.8 million tones, and is looking forward to enhance its output by 70-72% in 2009-10.
The company’s shares surged 2.28% to Rs 686.55 at BSE.
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