Dow Jones Newswires reported that JSW Steel Ltd has no plans to sell its struggling US operations despite low demand for its products.

Mr Sajjan Jindal vice CMD of JSW Steel, while speaking to reporters on the sidelines of a company event to announce a strategic tie up with Japan's JFE Holdings Inc's steel business unit, said that “It is a strategic investment and over time it should improve.”

He added that “Our US facility primarily produces plates and pipes for the oil and gas sector. That sector is not going to take a long time to revive.”

JSW Steel said that its Texas based US operations are running at 20% to 25% of capacity. It expects the operations to be running at 30% capacity by the end of the fiscal year through March 2010.

(Sourced from Dow Jones)