Mumbai: Leading steel maker JSW Steel on 13 July kicked off the expansion project at its Vijayanagar facility, scheduled to be completed by 2010.
On completion, the plant will have a capacity to produce 10 million tonnes per annum (mtpa) of steel, making it the largest production facility at a single location.
“The increased capacity would add more value to the company’s strategy in catering to the growing demand from the domestic and export markets,” a release issued here said.
At present, the Vijayanagar plant has an installed capacity of 7 mtpa.
The facility will have the latest equipment, besides having the largest blast furnace in India.
JSW Steel’s vice-chairman and managing director, Sajjan Jindal, said, “India’s thrust on infrastructure development will continue to drive the demand for steel in the coming years. The growing fixed asset investments in the emerging economies will see a growing demand for steel.”
He also saw a huge opportunity for growth in rural market in the country as “they are yet untapped for their potential.”