Indian steelmaker JSW Limited has approved the construction of an iron ore slurry pipeline entailing an investment of about $328 million to transport raw material to its Vijayanagar steel mill in the southern Indian state of Karnatka, JSW chairman Sajjan Jindal told shareholders on Thursday, June 29.
Mr. Jindal said that construction of the slurry pipeline would be completed within 24 months and would transport iron ore from mines in the Karnataka coastal region to the Vijayanagar steel mill. The cost of transporting the raw material in this way would be 15 percent the cost of alternative transport.
At the same time, JSW Limited is also considering a similar slurry pipeline connecting the Karntaka coast with its steel mill for transportation of coal, the JSW chairman added.
JSW Limited with an installed capacity of 18 million mt per year operates the Vijayanagar steel mill with a capacity of 12 million mt per year producing flat and long products using Corex technology.