JSW Steel to setup hot strip mill

Indian sources report that JSW Steel Ltd is planning to set up a 3 million-mt per annum hot strip mill in Karnataka with an investment of Rupees 20 billion ($450 million). The mill will convert slabs into finished steel products. With this mill, the company will be able to supply value added products to its customers. Moreover, the company has also announced that it intends to increase the capacity of the hot strip mill to 5 million mt later on. Meanwhile, JSW Steel will increase its slab production capacity to 7 million mts by December 2008 from the current 2.5 million mts.