JSW Steel has made an elaborate, three-phase turnaround plan for Monnet Ispat, the distressed steelmaker that was referred to insolvency courts last year for defaulting on loan repayments.
The plan includes restarting many of the units at Monnet’s facility in Raigarh, Chhattisgarh; utilise its capacity of 1.5 million tons, and eventually look at expanding the facility.
JSW Steel plans to commission the closed units by December, said Seshagiri Rao, Joint Managing Director and Group CFO of JSW Steel. Read More
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