JSW Steel to ramp up the overall steel capacity to 40 MnT pa by 2025.
JSW Steel plans for a 6 MnT expansion at its Bellary plant. After expansion, the plant’s steelmaking capacity will raise to 16 MnT pa, which will make it the largest single location steel facility in the country. The company has estimated an investment of INR 300 billion for its expansion at Bellary plant.
Sajjan Jindal has put the proposal for increasing the capacity from 10 MnT pa now to the Steel ministry, as per the sources.
The plan is a part of JSW’s overall target of 40 MnT pa steel making by 2025, which will support the steelmaker to retain its 13-14% market share.
In Jul’14, JSW Steel, having 14.3 MnT pa totaled installed capacity spread across Karnataka, Maharashtra and Tamil Nadu, had announced its plan to ramp up the overall steel capacity to 40 MnT pa by 2025. This will entail a capital outlay of around INR 1,342 billion.
The company’s plan is in sync with government’s plan of more than trebling country’s steelmaking capacity to 300 MnT pa by 2025, requiring a massive investment of INR 12,200 billion over the next decade.
JSW Steel was the largest exporter in India during Apr’14-Sep’14, contributing 61% of the total shipments.
USD 1 = INR 61