JSW to invest Rs 60 bn in FY13 to raise capacity

JSW Steel aims to expand its steel production capacity at its Vijaynagar plant to 12 mn tonne from 10 mn tonne and for this purpose has proposed to invest Rs 6,000 crore in 2012-13. The company expects to complete the expansion of this unit by 2013-14. Of the Rs 6,000 crore investment, Rs 3,500 crore will be debt and the rest will be through the route of equity. JSW Steel does not want to increase the Karnataka plant’s capacity to 16 mn tonne as planned earlier, until there is clarity on the iron ore supply issue.