JSW Steel eyes to supply 1.5 lakh tonne to metro rail projects in FY20

The reliefs and concessions sought by JSW were part of the committee of creditors approved resolution plan

Steel major JSW Steel on Tuesday said it expects to raise its supply to metro rail projects to about 1,50,000 metric tonnes in the current financial year.

"In the current financial year, the company expects to increase its supplies to the metro rail projects to about 1,50,000 metric tonnes as compared to its supplies averaging 1,00,000 metric tonnes per year over last few years," the company said in a BSE filing.

The company is supplying to metro rail projects in Mumbai, Pune, Nagpur, Bangalore, Chennai, Kolkata, Indore, Bhopal, Lucknow and Ahmedabad.

"The ongoing supplies as well as those already completed during the current fiscal will boost JSW Steel's supplies to metro rail projects by more than Rs 600 crore following successful completion of these deliveries," it said.

In October and November, the steel major supplied more than 30,000 metric tonnes JSW Neosteel TMT bars towards construction of metro projects in various cities of the country.

The shares of JSW Steel were trading at Rs 261.10 apiece in the morning trade.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel