JSW Steel Expects Higher Supply To Metro Rail Projects In FY20
Steel major JSW Steel Ltd. on Tuesday said it expects to raise its supply to metro rail projects to about 1,50,000 metric tonnes in the current financial year.
"In the current financial year, the company expects to increase its supplies to the metro rail projects to about 1,50,000 metric tonnes as compared to its supplies averaging 1,00,000 metric tonnes per year over the last few years," the company said in a BSE filing.
The company is supplying to metro rail projects in Mumbai, Pune, Nagpur, Bangalore, Chennai, Kolkata, Indore, Bhopal, Lucknow, and Ahmedabad. "The ongoing supplies, as well as those already completed during the current fiscal, will boost JSW Steel's supplies to metro rail projects by more than Rs 600 crore following successful completion of these deliveries," it said.
In October and November, the steel major supplied more than 30,000 metric tonnes JSW Neosteel TMT bars towards the construction of metro projects in various cities of the country. The shares of JSW Steel were trading at Rs 261.10 apiece in the morning trade.