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Karnataka steelmakers hope to get back on track

Wednesday 7th Sep 2011 142

Mumbai : 07 Sep 11 | 01:36 AM:The Karnataka steel industry has a reason to cheer. Last Friday, the Supreme Court in a ruling allowed auction of 1.5 million tonne of iron ore a month.

JSW Steel, the biggest player in the region, expects to go back to 80 per cent capacity utilisation once the auction begins.

Jayant Acharya, director (sales and marketing), JSW Steel, admitted the units in the state were under pressure.

"There is a shortfall of the raw material and we are looking at all options to source. We are hopeful once the auction begins, we will be back at 80 per cent," he said.

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