India steel booms as JSW aims to double capacity

JSW Steel became India’s largest steelmaker this year as production surged. It wants to get bigger still, much bigger.

The Mumbai-based company plans two plants of 10 million metric tonnes each in Odisha and Jharkhand, part of a drive to more than double in size to 40 million tonnes by 2030, according to joint managing director Seshagiri Rao. To fund growth and lower costs, the steelmaker will tap the bond market more frequently, with larger issues of possibly longer tenures, he said in interview, building on its recent successful overseas debut. These are boom times for steelmakers in Asia’s third-largest economy