JSW Steel shuts down one furnace after fire
The Sajjan Jindal led-JSW Steel has shut down one of its furnaces, constituting 20% of the hot metal capacity, for 30 to 60 days due to “certain fire in cables on February 15,” the company said in a statement to the BSE on Monday.
By Prince Thomas, TNN |
MUMBAI: The Sajjan Jindal led-JSW Steel has shut down one of its furnaces, constituting 20% of the hot metal capacity, for 30 to 60 days due to “certain fire in cables on February 15,” the company said in a statement to the BSE on Monday.
The shut down has been done to “undertake necessary capital repairs. The company has insured the risks covering interalia the fire and consequential loss of profits. The company has approached the Insurance Company and is in the process of assessing the loss and lodgment of claim,” said JSW in the statement.
Its stock was down 2.6% at Rs 452 at the BSE by 3 pm on Monday.
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