India’s JSW Limited is planning to invest $33.93 billion by 2024-25 to ramp up its steelmaking capacity to 37.5 million mt, company chairman Sajjan Jindal informed shareholders on Friday, July 2.
The company sold 15 million mt of steel in the fiscal year 2020-21, and invested around $64.86 billion over the last three fiscal years to expand capacity, he told shareholders of the company.
“We are now embarking on our next phase of growth. The fresh capital will allow us to augment crude steel capacity at the Vijaynagar steel mill by 7.5 million mt per year, enhance and digitize our mining capabilities and infrastructure in Odisha, and help us set up a state-of-art color-coated steel making facility in Jammu and Kashmir states to support local demand,” he said.