OREANDA-NEWS. October 3, 2011. There are misleading media reports of CBI raids on JSW Steel Ltd Vijayanagar unit at Bellary. JSW Steel strongly denies any such raids.

CBI team visited company's Vijayanagar works today morning and sought certain information about procurement of iron ore.

JSW Steel has been procuring iron ore from various sources for its steel production requirements and every tonne procured is accounted, paid for and in compliance with applicable rules and regulations.

JSW Steel has and will fully cooperate and provide all the information that may be sought by the authorities concerned in this regard.

About JSW: JSW Steel Ltd., belonging to JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interest in mining, carbon steel, power, industrial gases, port facilities, Aluminium, Cement and Information Technology. JSW Steel Limited is engaged in manufacture of flat and long products viz. H R Coils, C R Coils, Galvanised products, Galvalume Products, auto grade / white goods grade CRCA Steel, Bars and Rods. Incorporated in 1994, it has grown to USD  9 billion in little over fifteen years. JSW Steel Limited has the largest galvanizing and colour coating production capacity in the country and is the largest exporter of galvanized products with presence in over 100 countries across five continents.