JSW Steel to invest $22 billion to raise capacity to 40 mt by 2025

JSW Steel, one of India's largest steel companies, plans to invest $ 22 billion (about Rs 1,32,000 crore) through the next 10 years to raise its total capacity from 14.3 million tonnes (mt) to 40 mt by 2025. “Since we want to maintain our market share of 13-14%, we have decided to invest this amount in the coming years and be part of the government’s 300-mt-steel-capacity plan by 2025. We will look to grow both organically, as well as inorganically to achieve this capacity (40 mt),” said Sajjan Jindal, Chairman, JSW, on the sidelines of the company’s 20th annual general meeting held in Mumbai. This financial year, the company has planned capital expenditure of about Rs 7,000 crore.
 
Jindal added, “JSW Steel is committed to partner India’s growth on the strength of its top-tier know-how and committed workforce. We are looking at the future with more optimism than ever before. I invite all of you to share our optimism and support our collective journey forward.”
 
On the acquisition of Welspun Maxsteel, Jindal said, “We are going through the due diligence process; it should take about two months.” Welspun Maxsteel runs a sponge iron unit that caters to JSW Ispat’s Dolvi plant. Acquisition of Welspun will ensure continuous supply of cheaper raw material to the Dolvi unit.