Indian steelmaker JSW Steel on Thursday denied the conclusions drawn in a report by an anti-graft watchdog against the company on procurement and transportation of iron ore in Karnataka.
Karnataka’s anti-graft watchdog – Lokayukta- had cited certain alleged illegal purchase of iron ore and transactions linking the company and a group firm.
JSW Steel has already invested over Rs33,500 crore ($7.5 billion) to set up a 10 million tonne per annum capacity steel plant in Karnataka, while it is still waiting to get mining leases in the state for over 15 years, the firm said in the statement.
“Today iron ore is not available, therefore we have cut the production.”
JSW Steel denies Lokayukta report, says followed law – livemint.com.
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