JSW secures domestic coking coal source

Wednesday, 24 October 2018 22:48:24 (GMT+3)   |   San Diego
       

According to a recent press release, JSW Steel has acquired 100 percent of Dolvi Minerals and Metals (DMM), by purchasing the remaining 60 percent stake, at Rs 109 crore (US$15 million). DMM trades, sells and retails minerals relevant to steelmaking such as coking coal. JSW Steel has a nearby steelmaking facility in Dolvi in the state of Maharashtra near the Mumbai market.

JSW is expanding capacities at its Vijayanagar, Karnataka site by 50 percent to 18 million mt and Dolvi, Mahrashtra site by 100 percent to 10 million mt by investing Rs 44,000 crore (US$6 billion) through Q1 2020. Decreased reliance on imports of raw materials and increased domestic assets are also part of its growth strategy.


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