Sajjan Jindal is lining up mega expansion plans for JSW Steel but he knows that wont be enough to get into the top league. JSW is now looking to plug its biggest handicap of captive iron ore mines and the country''s fourth largest steel maker is innovating ways to cut down raw materials costs.
It is not going to be easy though while Tata Steel and SAIL are 100 per cent self-sufficient in iron ore JSW Steel barely controls 20 per cent of its iron ore requirement. JSW''s raw material costs have risen by 9 per cent during the last quarter and coke prices are also hitting new highs. And JSW now wants to set up coke oven plants to make sure that he maintains its competitive edge.
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