JSW Steel Invests in Major Expansion to its Steelmaking Capacity

SEATTLE (Scrap Monster): JSW Steel announced plans to make fresh investment of around INR 28,000 crore to expand its steelmaking capacity by almost 50%. The investment will boost the steelmaking capacity from current level of 24.5 million tonnes to 36.5 million tonnes by March 2024. The capital for new projects will be arranged at a debt-equity ratio of 1:1.

According to Seshagiri Rao, joint MD and group CFO, JSW Steel, the capacity at its main plant in Vijayanagar, Karnataka will be expanded from 12 million tonnes to 19.7 million tonnes. The capacity of acquired Bhushan Power and Steel (BSPL) would be doubled to 5 million tonnes. The company had recently doubled its capacity at Dolvi, Maharashtra, he noted.

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