JSW Steel to shut down a furnace for 30-60 days for repairs

JSW Steel Ltd has announced that due to certain fire in cables on February 15, 2007, one of the Furnaces constituting 20% of the total Hot Metal capacity is required to be shut down for an estimated period of 30-60 days 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.

Source : Equity Bulls

Keywords