Coronavirus Lockdown: JSW Steel reports 60% fall in output at 5.63 lakh tonne in April

JSW Steel has registered a sharp fall of about 60 percent in its crude steel production at 5.63 lakh tonne (LT) amid lockdown during April 2020. The company had produced about 13.90 LT of crude steel during the same month in 2019

Press Trust of India May 04, 2020 14:05:37 IST
Coronavirus Lockdown: JSW Steel reports 60% fall in output at 5.63 lakh tonne in April

New Delhi: JSW Steel has registered a sharp fall of about 60 percent in its crude steel production at 5.63 lakh tonne (LT) amid lockdown during April 2020. The company had produced about 13.90 LT of crude steel during the same month in 2019.

"JSW Steel reports crude steel production at 5.63 LT for April 2020, clocking an average capacity utilisation of 38 percent for the month," the company said in a statement.

To commence and scale up production in a healthy and safe state of operating conditions, the company could secure the requisite approvals and has accordingly commenced operations and is gradually ramping up capacity since then, it said.

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On 25 March, the company had informed about its decision to scale down or suspend production during the lockdown due to the coronavirus pandemic.

The additional two-week lockdown till 17 May declared by the government with further relaxations to commence more economic activities is a step in the right direction in reviving the sentiment and in gradually restoring the confidence to rejuvenate the economy, JSW Steel said.

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JSW Steel is part of $14 billion JSW Group and has a presence in sectors such as steel, energy, infrastructure, cement, sports, among others.

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