According a recent annual report, Sajjan Jindal, the Chairman and Managing Director of JSW Group, JSW is committed to growing the company both organically and through acquisitions. In the report he said, “Inorganic growth has always been an integral part of our growth journey.”
Inorganic plans for growth in the Indian domestic market include buying distressed assets through the National Company Law Tribunal NCLT process and joint venture opportunities.
Organically, JSW Steel also plans to make capital expenditure of Rs 45,000 crore (US$6.6 billion) by FY21 to expand capacities in the domestic market at Vijayanagar and Dolvi sites and modernize and expand capacities of downstream entities.
Jindal added that the expansions will further enhance efficiencies and completion of these project will take JSW’s overall capacity from 18 million mt annually to near 25 million mt by March 2020.
Along with the attempt to buy Bhushan Steel, later purchased by Tata Steel, JSW also sought Essar Steel and is now in the process of acquiring Monnet Ispat, a 1.5 million mt annual capacity facility in Chhattisgarh.
Internationally, recent investments in the US (Acero Junction) and Italy (Aferpi) are cementing JSW’s ability to produce in other local markets said Jindal.