JSW Steel is planning to ramp up steel capacity at its Bellary plant to 16 MnT pa. In this context, the company has estimated an investment of INR 300 billion, which will make the unit the largest single-location steel facility.
Sajjan Jindal-led steelmaker earlier the month to the Steel Ministry, which has forwarded to Environment and Forest counterpart for its approval, has put the proposal to raise the capacity from 10 MnT pa, as per the sources. The capacity addition plan is in line with JSW Steel’s overall target of achieving a portfolio of 40 MnT pa by 2025, which will help the steelmaker to retain its market share of 13-14%.
JSW Steel, having 14.3 MnT pa totaled installed capacity in Karnataka, Maharashtra and Tamil Nadu, had announced plans to raise the overall steel capacity to 40 MnT pa by 2025 in Jul’14. This will entail a capital outlay of around USD 22 billion.
The company’s plan to ramp up its capacity is in sync with government’s plan of more than trebling country’s steelmaking capacity to 300 MnT pa by 2025, requiring a huge USD 200 billion investment over the next decade. On the anvil are two 10 MnT greenfield facilities in West Bengal and Jharkhand, as per its website.
The company was the largest exporter in the country during Apr’14-Sep’14, contributing 61% of the total shipments.
– Sourced
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