India’s JSW Steel Limited will invest $145 million to upgrade its steel mill facilities at Mingo Junction, Ohio, US, which are operated by its overseas arm JSW USA Ohio Inc, a company statement said on Wednesday, May 3.
“The investments and projects will help us in producing high quality 'melted and manufactured in USA' steel products required by our customers in the infrastructure and renewable energy sectors," JSW USA Ohio director Parth Jindal said in the statement.
“The improvement in JSW Steel USA's domestic slab production capabilities through these new investments will mitigate risks associated with importing slabs, improve profitability of the business and create employment opportunities in the US,” he said.
The proposed investments include various projects to upgrade its operations including the installation of one of the largest Vacuum Tank Degassers (VTDs) in the world and the upgrade of supporting facilities including the manufacturing infrastructure and will be completed and commissioned in the fiscal year 2025-26, the statement said.