JSW Steel to restart full-scale production after lockdown ends
The company’s revised production guidance for FY19-20 stood at 16.50 mt
JSW Steel is preparing to recommence production at all its facilities in the next few days on lifting the lockdown imposed due to the ongoing COVID-19 outbreak.
The company is making all preparations to recommence operations at all locations on lifting of the lockdown in the next few days. The company’s revised production guidance for FY19-20 stood at 16.50 million tonne and it achieved 97% of it to 16.06 million tonne.
Metals are considered a process industry and exempted from complete shutdown. However all the production units are running with lower capacities and lesser numbers of staff.
A recent report by KPMG said that if turnaround takes time, furnaces and smelters too will be shut down, which will have an adverse impact in the metals and mining industry.
JSW Steel also announced the quarterly production number and has registered a 5% decline in crude steel production to 3.97 million tonnes for Q4 FY 20 led by a sharp fall in March due to the unanticipated nationwide lockdown and production shutdowns.
However, on a YoY basis, overall production has come down 4% as against 16.69 MT for the financial year ending March 2019.