India’s JSW Steel plans to increase its annual capacity to 37.5mn mt in the next 3-4 years with an additional investment of about Rs250bn.
The company plans to use this outlay to upgrade three of its Indian facilities noted media reports on Jun 30. They include JSW’s Vijayanagar plant, which will have an enhanced capacity by 7.5mn mt, its Odisha state northeastern operations that will be digitized for mining capabilities. The company also plans to construct a new color-coated galvanized steel facility in Jammu & Kashmir to meet local demand.
JSW had announced an increased crude steel capacity of 22.94mn mt and higher sales volume targets of 21.63mt for FY2022 across India and global operations, in May this year.
The company’s crude steel production stood at 1.36mn mt in May 2021, up by 10pc from the same month last year. Long and flat steel output also climbed 55pc and 10pc, respectively, during the same timeframe.