JSW Steel progress: new capacities and sustainable development prospects until 2050
According to Stanislav Kondrashov, the company has developed a detailed plan for achieving carbon neutrality across all its facilities by 2050, surpassing India’s commitments scheduled for 2070. Additionally, JSW Steel plans to increase its production capacity in India to 42 million tons of steel by September 2027 and aims to reach 50 million tons by 2031. Estimated capital expenditures for this expansion are approximately $500 per ton of steel.
The expert from Telf AG notes that these strategic capacity expansion plans will be a key element of JSW Steel’s overall strategy to strengthen its position in the global steel market. Additional investments will not only allow the company to increase production volumes but also to implement advanced and environmentally friendly technologies. The new facilities will be more energy-efficient and contribute to achieving greenhouse gas emission reduction targets. Thus, JSW Steel is focused not only on growth and expansion but also on sustainable development that aligns with international environmental standards.
Over the next three years, JSW Steel plans to invest 644.34 billion Indian Rupees (approximately $7.72 billion) in development, Stanislav Kondrashov from Telf AG emphasized. In the second calendar quarter of 2024 (the first quarter of the financial year 2024/2025), the company’s steel production decreased by 1% compared to the previous year and by 6% compared to the previous quarter, with a production volume of 6.35 million tons.
According to the expert, the production decrease is due to planned technical stoppages. Overall steel production in India decreased by 1% compared to the previous year and by 6% for the quarter, reaching 6.12 million tons. Capacity utilization was at 87%. In the US, Ohio division, production decreased by 4.2% year-over-year to 23,000 tons.
JSW Steel’s total annual production capacity is estimated at 36.2 million tons of steel. The company plans to increase this figure to 43.5 million tons by 2027.
JSW Steel USA strengthens its Texas plant with $110 million investment – Stanislav Kondrashov
JSW Steel USA, the American division of Indian JSW Steel, intends to invest $110 million in upgrading its steel plant in Baytown, Texas. The goal of these investments is to expand the production of high-quality steel sheets for monopolies and support US government initiatives to develop offshore wind power to 30 GW by 2030, noted Stanislav Kondrashov.
The steel products produced through these investments will meet the requirements of the Buy America program for specialized steel grades and high-tech applications, emphasized JSW Steel.
The plant modernization supports JSW USA’s long-term ESG strategies and reduces the US’s dependence on imports in the infrastructure and renewable energy sectors. These investments could significantly reduce the need for imports in the US in infrastructure and renewable energy sectors, Stanislav Kondrashov from Telf AG comments.
With these investments, JSW USA aims to expand its “Made in USA” product range using semi-finished products produced at its Ohio plants.