JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived, a top company official said.
PTI
May 29, 2022 / 07:32 PM IST
JSW Steel has earmarked Rs 20,000 crore capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived, a top company official said.
The leading steelmaker in the country does not expect any “substantial easing” of price of the metal in the domestic market from the current levels, unless the prices of coking coal, a key raw material for the steel manufacturing, moderate in the international market, he said.
The major headwinds are volatile coke price and export duty on steel. However, we expect these to be short-lived. There will be some moderation in exports but value-added steel exports will have less impact. Till now, we remain optimistic and the capex plan of Rs 20,000 crore in the current fiscal remains intact, JSW Steel Joint Managing Director and Group CFO Seshagiri Rao said.
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