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2015-12-15T00:00:00.000Z

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Wrong Vinod Nowal?

Dr. Vinod Nowal K.

Deputy Managing Director

JSW Steel Ltd

HQ Phone: +91 22 4286 1000

Email: v***@***.in

JSW Steel Ltd

Bandra Kurla Complex

Mumbai, Maharashtra 400 051

India

Company Description

At JSW's Texas Works, we've produced quality hot-rolled steel plate and large diameter SAW pipe since 1997. Today, one customer at a time, all of our team members are committed to satisfying your needs for our plate and pipe products. more

Find other employees at this company (4,598)

Background Information

Education

Doctorate
Inventory Management

Masters Degree
Business Administration

Web References (137 Total References)


Vinod Nowal of JSW ...

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Vinod Nowal of JSW Steel


Vinod Nowal of JSW ...

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Vinod Nowal of JSW Steel


Home - T John College

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Dr. Vinod Nowal Deputy Managing Director JSW Steel Limited


So, there is no choice for ...

www.business-standard.com [cached]

So, there is no choice for us but to increase imports," Vinod Nowal, deputy managing director of JSW Steel, told Business Standard.

According to Nowal, the landed cost of iron ore sold through e-auctions is around Rs 5,600 a tonne against imported ore, which costs Rs 6,300 a tonne after adding inland cost and freight (CFR). "Though imported ore costs slightly higher than the domestic ore, considering the good quality of imported ore, we are importing. Our strategy is very clear. We want to first use local material and then look at imports," he added.
Base prices of iron ore at e-auctions in Karnataka have gone up 41 per cent to Rs 3,800 a tonne from Rs 2,700 a tonne about three years ago. Besides, steel mills also have to pay 27 per cent taxes in the form of 15 per cent royalty and 12 per cent forest development tax and five per cent value-added tax. This has dented their margins considerably, Nowal noted.
...
Blast furnace life will also increase with imported ore. So, even though the imported ore costs around Rs 1,000 higher than domestic material, we find it useful," Nowal explained.


Vinod Nowal, deputy managing ...

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Vinod Nowal, deputy managing director at JSW Steel, said the company has to pay an additional cost of Rs 2,000 a tonne for imported ore compared to the domestic ore. "Though we have to pay more for the imported ore, the recovery of steel is higher because the ore contains 64 per cent Fe and very less amount of impurities like 1 per cent silica compared to 4-5 per cent in the domestic ore. The alumina is also less in imported ore," he said.

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