Financial Express reported that India’s leading steel maker JSW Steel will expand its production capacity in the country by 10 million tonne to 36 million tonne per annum with an estimated investment of Rs 20,000 crore. JSW Steel’s Joint Managing Director & Group CFO Mr Seshagiri Rao told “The capacity expansion would be from 26 million tonne per annum, which would be about 7.5 million tonne per annum at Vijayanagar and 2.5 million tonne per annum at Bhushan Power & Steel. These would be met through internal cash flows. The capex for the last fiscal stood at INR 15,000 crore. Last year, we increased capacity to 23 million tonne per annum from the earlier 18 million tonne per JSW Steel is also expecting the merger of JSW Ispat Special Products to add 1 million tonne to the overall production capacity, taking it to 27 million tonne per annum.”He added “Of the total capex for the year, JSW Steel will invest about INR 3,400 crore for expansion of its greenfield facility in Odisha, which includes expansion of mining capacity, to automate it and buy new equipment, among others. We are also investing in a slurry pipeline. As far as the integrated steel plant in Odisha is concerned, we will take up the project once the land is handed over to us. That will take some time.”
Financial Express reported that India’s leading steel maker JSW Steel will expand its production capacity in the country by 10 million tonne to 36 million tonne per annum with an estimated investment of Rs 20,000 crore. JSW Steel’s Joint Managing Director & Group CFO Mr Seshagiri Rao told “The capacity expansion would be from 26 million tonne per annum, which would be about 7.5 million tonne per annum at Vijayanagar and 2.5 million tonne per annum at Bhushan Power & Steel. These would be met through internal cash flows. The capex for the last fiscal stood at INR 15,000 crore. Last year, we increased capacity to 23 million tonne per annum from the earlier 18 million tonne per JSW Steel is also expecting the merger of JSW Ispat Special Products to add 1 million tonne to the overall production capacity, taking it to 27 million tonne per annum.”He added “Of the total capex for the year, JSW Steel will invest about INR 3,400 crore for expansion of its greenfield facility in Odisha, which includes expansion of mining capacity, to automate it and buy new equipment, among others. We are also investing in a slurry pipeline. As far as the integrated steel plant in Odisha is concerned, we will take up the project once the land is handed over to us. That will take some time.”
