JSW Steel Declared Major Investment to Boost Production Capacity

SEATTLE (Scrap Monster): Leading steelmaker JSW Steel announced plans to make significant investments at its facilities, aimed at ramping up the company’s total steel production capacity.

In a message to shareholders, Sajjan Jindal, Chairman and Managing Director, JSW Steel said that it plans to invest approximately INR 25,115 crore by 2024-’25. This is expected to ramp up the production capacity to 37.5 million tonnes per annum. The company has invested approximately INR 48,000 crore over the past three years, without increasing its debt, which has helped it to raise the production capacity by almost 50% to nearly 28 million tonnes per annum. JSW Steel has a total installed crude steel capacity of 18 million tonnes in the country, he noted.

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JSW Steel aims to embark on its next phase of growth. In addition to augmenting its crude steel capacity, the proposed investment will also digitize its mining operations. Also, the investment covers setting up of a state-of-the-art colour-coated facility in Jammu & Kashmir to support local demand.

The new capacities and robust steel prices are expected to deliver a net debt to EBITDA ratio of 2.75. The steelmaker had reported capacity utilization rate of 91% during the month of May this year.