JSL, the stainless steel producer, has scrapped its $1.2-billion (approx Rs
5,640 crore) JV project with PT Antam TBK in Indonesia.
JSL had entered into a JV with PT Antam last year to build a 20,000-tonne
ferro-nickel plant and 3-lakh-tonne stainless steel slab unit in the country.
However, with prices of nickel dipping sharply, the company has decided to drop
the project.
Also See:
JSL plans to
raise more funds for Orissa project (08-Apr-09)