JSW Steel: New JSW steel plant may make cars cheaper

The cutting down on production cost would also provide a major relief to the automotive industry, which is reeling under negative sales growth, he said. "Japanese car manufacturers Nissan and Honda have already shown keen interest in placing order to manufacture their SUVs in India. We expect more full-fledged orders from car makers by end of this year as more approvals are awaited," Nowal added. JSW steel has collaborated with Japanese steel major JFE for setting up CRM-2, which has a 15% stake in JSW steel with an investment of Rs 4,500 corer.