JSW Steel to expand Vijayanagar plant capacity to 18 MT
JSW Steel is planning to spend around ₹ 43,000 crore in the next three years for expansions, besides downstream facilities
New Delhi: Leading integrated steel manufacturer JSW Steel Ltd plans to scale up the capacity of its plant in Vijayanagar, Karnataka, to 18 million tonnes per annum (MTPA), its chairman and managing director Sajjan Jindal has said. “Our plan is to take to the next step to 18 MTPA from 13 MTPA,” Jindal told PTI.
In June, JSW Steel had announced its planned to invest ₹ 7,500 crore until March 2020 to increase the production capacity at its Vijayanagar facility to 13 MTPA. “Hopefully, in the next two years we will start work there,” he said. When asked how much money the company would invest in the expansion, Jindal said, “I don’t know the money numbers.”
JSW Steel’s deputy managing director Vinod Nowal, asked about the timelines for expansion, said it “totally depends upon the acquisitions. Suppose something comes then we will take a little pause and… suppose Essar and Bhushan are not happening then we can go earlier also for Vijayanagar”.
About the expansion of the company’s Dolvi unit in Maharashtra, Nowal said, “We are expanding our Dolvi plant from 5 million tonnes to 10 million tonnes and that is our target to achieve by March 2020.”
The company, he said, was planning to spend around ₹ 43,000 crore in the next three years in these expansions, besides downstream facilities.
JSW Steel is a part of the diversified $13 billion JSW Group. The company’s plant at Vijayanagar is the largest single location steel producing facility in the country.