JSW to inject ₹15k cr to boost production

NEW DELHI: JSW Steel on Friday said it has earmarked an investment of ₹15,000 crore to set up 5 million tonne per annual (MTPA) steel-making capacity at its integrated plant in Vijayanagara, Karnataka.

In this regard, Union Steel Minister Ram Chandra Prasad Singh on Friday laid the foundation stone of the project at the company’s Vijayanagara unit in the presence of JSW Steel Chairman Sajjan Jindal, along with other government and company officials.

“Steel Minister Ram Chandra Prasad Singh today (on Friday) laid the foundation stone of the new 5 MTPA project at JSW Steel Vijayanagar Works integrated steel facility in Karnataka.

“This brownfield expansion project is being undertaken through JSW Vijayanagar Metallics Ltd, a wholly-owned subsidiary of JSW Steel Ltd. The company has earmarked a capex (capital expenditure) of ₹15,000 crore for this expansion and is expected to be completed by FY24,” JSW Steel said in a statement.

According to the statement, the expansion will cover an area of 600 acre and includes establishing 4.5 MTPA blast furnace, two steel melt shops of 350 tonnes each, and a 5 MTPA hot strip mill along with other allied and auxiliary facilities.

The JSW Steel Vijayanagar Works is the largest single-location integrated steel-making facility in India with a current capacity of 12 MTPA (million tonnes per annum).

The company is undertaking an optimisation process of the current facility which will enhance the capacity to 13 MT in the next 12 months. After the completion of the brownfield (existing) project, the company’s total installed capacity in Vijaynagar will reach 18 MTPA.