JSW Steel’s ₹2 Lakh Crore Power Move

JSW Steel plans to invest more than ₹2 lakh crore over the next five to six years as it targets a 50% increase in its steelmaking capacity.

Chief Executive Officer Jayant Acharya said the company has already announced projects worth ₹1 lakh crore to be executed over the next four to five years. Additional investments are planned for brownfield expansion at Vijayanagar, completion of the second phase at JSW Utkal, and expansion of its joint venture at Bhushan Power and Steel. JSW Steel currently has an annual production capacity of 34.2 million tonnes in India and aims to raise it to over 50 million tonnes by the end of the decade, excluding Bhushan Power.

At Bhushan Power, capacity is set to be expanded from 4.5 million tonnes to 10 million tonnes through a joint venture with JFE Steel. The company is also establishing a green steel plant at Salav in Maharashtra as part of its sustainability and growth strategy.

News by Rahul Yelligetti.