May 16, 2018 / 11:29 AM / 2 months ago

BRIEF-India's JSW Steel Exec Says Co Initiated Almost 20 Bln Rupees Of Cost Saving

May 16 (Reuters) - Seshagiri Rao, joint MD and group CFO, JSW Steel speaking at post-earnings press conference:

* EXEC SAYS PLAN TO ACCELERATE CO’S CAPEX PLANS

* EXEC SAYS CO WILL EXPAND VIJAYANAGAR FACILITY BY 1 MILLION TONNES AND 0.6 MILLION TONNES AT DOLVI BY 2020

* EXEC SAYS EARMARKING MORE CAPEX FOR DOWNSTREAM PROJECTS

* EXEC SAYS CO IS COMMITTING ADDITIONAL CAPEX OF 170 BILLION RUPEES WHICH TAKES TOTAL CAPEX TO 400 BILLION RUPEES BY MARCH 2020

* EXEC SAYS CO WILL GET THE PAYBACK OF THE CAPEX IN 3 TO 3.5 YEARS AFTER COMPLETION

* EXEC SAYS FY19 PRODUCTION GUIDANCE IS 16.75 MILLION TONNES AND 16 MILLION TONNES OF SALES

* EXEC SAYS EXPECT STEEL DEMAND TO BE IN THE RANGE OF 7-7.5 PERCENT IN FY19

* EXEC SAYS CO INITIATED ALMOST 20 BILLION RUPEES OF COST SAVING Further company coverage:

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