JSW Steel invests Rs 350 crore in pipe conveyor projects

JSW Group

JSW Steel has decided to invest around Rs 350 crore to set up two pipe conveyor projects to transport ore from the mines to its plant in Karnataka.

Expected to be completed by the end of the present financial year, these projects will save the company around Rs 350 crore – in annual logistics cost to transport the raw material.

Currently, hundreds of trucks are deployed to move the ore from the mines to the plant in Vijayanagar. Quoting an official, a Moneycontrol report said, “the money saved is like money earned and will reflect in our margins.”

It further said that among its peers, Essar Steel has two slurry pipelines – both of which run over 250 km – that transport ore from mines to beneficiation plants in Andhra Pradesh and Odisha.

Image Credit : static-news.moneycontrol.com

Author: Research Desk