JSW Steel, after cutting down its investment in the first phase of its 10-mega tonne per annum steel plant at Salboni in West Bengal by almost a third, said it has decided to defer the commencement of construction work at the site, due to current economic situation, reported the PTI quoting the company's Vice-Chairman and Managing Director, Sajjan Jindal.
The construction work was scheduled to commence in March next year. Now it is likely to be delayed by 6-8 months. JSW Steel announced early this year that it was cutting its proposed investment by nearly one-third to around Rs.4,000 crore for the first phase of the Rs.35,000-crore mega steel project in West Bengal.
Jindal, while answering a query on the 10-MTPA proposed steel project in Jharkhand, said that it might also be delayed in the present economic scenario, adding that the company is working on getting regulatory approvals.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.