India’s JSW Limited’s capital expenditure over the next three years will touch $6.5 billion, a company official said on Monday, May 24.
The official said that, of the total capex, an estimated $3.44 billion will be riding on new projects, while the balance will be spent on ongoing projects including the doubling of JSW’s Dolvi steel mill capacity to 10 million mt per year.
JSW Limited’s joint managing director Seshagiri Rao said that the Dolvi expansion will be completed by July this year and that the plant will be fully integrated by September. The coke oven plant commenced production in February, while the pellet plant was commissioned in March. The hot strip mill also started rolling from March.
The completion of the blast furnace and steel melting shop has been delayed because of Covid-19 disruptions, he said.
JSW Steel aims to expand its capacity to 38 million mt per year by 2024 from the present 23 million mt per year including the recently acquired Monnet Ispat and Bhushan Power and Steel.