Synopsis: JSW Steel reveals project updates, highlighting the progress of multiple expansions across various locations. The company's capital expenditure during Q2 FY24 and H1 FY24 indicates a significant investment in its growth and future.Article: JSW Steel, a prominent name in the steel industry, has shared crucial updates about its ongoing projects, signaling its commitment to growth and enhancing production capacity.The Vijayanagar site is undergoing a brownfield expansion with a capacity of 5 million metric tons per annum. Currently, civil activities are in full swing, accompanied by construction activities across all packages. The pace of progress is evident, with equipment erection initiatives having kicked off. A remarkable achievement in the Steel Melt Shop has been the completion of one Convertor's erection. The projected timeline suggests that the expansion is set to wrap up by the close of FY24.In another update from JSW Steel Coated Products Limited, there is noteworthy progress regarding the colour-coated steel line in Jammu and Kashmir. This particular project, boasting a capacity of 0.12 million metric tons per annum, is slated for completion within the fourth quarter of FY24.Bhushan Power & Steel Limited (BPSL) isn't lagging behind either. The Phase-II expansion at BPSL, which aims to amplify its capacity from 3.5 million metric tons per annum to 5 million metric tons per annum, is on a fast track. Much like the Vijayanagar project, this expansion is also earmarked for completion by the end of FY24.On the financial front, JSW Steel has been channeling substantial funds into its projects. The capital expenditure (capex) during Q2 FY24 stood at ₹3,701 crores in India and a consolidated ₹3,816 crores. As we shift the lens to the first half of FY24, the figures are even more impressive. The capex spend in India reached ₹7,795 crores, with a consolidated amount of ₹7,996 crores. When juxtaposed with the planned capex spend of ₹18,800 crores in India and a consolidated ₹20,000 crores for FY24, it's evident that JSW Steel is poised for monumental growth.Conclusion: The recent updates from JSW Steel underscore its dedication to expansion and technological advancement. With multiple projects nearing completion and substantial financial investments, JSW Steel's vision for the future seems not just promising, but set in steel.
Synopsis: JSW Steel reveals project updates, highlighting the progress of multiple expansions across various locations. The company's capital expenditure during Q2 FY24 and H1 FY24 indicates a significant investment in its growth and future.Article: JSW Steel, a prominent name in the steel industry, has shared crucial updates about its ongoing projects, signaling its commitment to growth and enhancing production capacity.The Vijayanagar site is undergoing a brownfield expansion with a capacity of 5 million metric tons per annum. Currently, civil activities are in full swing, accompanied by construction activities across all packages. The pace of progress is evident, with equipment erection initiatives having kicked off. A remarkable achievement in the Steel Melt Shop has been the completion of one Convertor's erection. The projected timeline suggests that the expansion is set to wrap up by the close of FY24.In another update from JSW Steel Coated Products Limited, there is noteworthy progress regarding the colour-coated steel line in Jammu and Kashmir. This particular project, boasting a capacity of 0.12 million metric tons per annum, is slated for completion within the fourth quarter of FY24.Bhushan Power & Steel Limited (BPSL) isn't lagging behind either. The Phase-II expansion at BPSL, which aims to amplify its capacity from 3.5 million metric tons per annum to 5 million metric tons per annum, is on a fast track. Much like the Vijayanagar project, this expansion is also earmarked for completion by the end of FY24.On the financial front, JSW Steel has been channeling substantial funds into its projects. The capital expenditure (capex) during Q2 FY24 stood at ₹3,701 crores in India and a consolidated ₹3,816 crores. As we shift the lens to the first half of FY24, the figures are even more impressive. The capex spend in India reached ₹7,795 crores, with a consolidated amount of ₹7,996 crores. When juxtaposed with the planned capex spend of ₹18,800 crores in India and a consolidated ₹20,000 crores for FY24, it's evident that JSW Steel is poised for monumental growth.Conclusion: The recent updates from JSW Steel underscore its dedication to expansion and technological advancement. With multiple projects nearing completion and substantial financial investments, JSW Steel's vision for the future seems not just promising, but set in steel.
