JSW Steel to Import 10 Million Tonne of Iron Ore Due to Local Shortage: Report
JSW Steel Ltd, India's third-largest maker of the alloy, will import 10 million tonnes of iron ore this fiscal year due to a shortage in domestic market, a senior official said on Tuesday.
The company, led by billionaire Sajjan Jindal, had earlier planned to import 6 million tonnes in the fiscal year through March 31.
A TV news channel had earlier reported the news.
"After having seen a severe shortage in India and unreasonable prices in the country, we have now decided to increase our imports to 10 million tonnes," JSW's Joint Managing Director Seshagiri Rao told to the news channel.
Copyright: Thomson Reuters 2014
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