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JSL shelves JV project in Indonesia

Saturday, 23 May 2009
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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)

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