JSW Steel plans to increase its Indian capacity to 42 million tons of steel per year by September 2027 and reach 50 million tons by 2031.
Jul 4, 2024
In order to realize its 2030 goal of reducing CO2 emissions by 42 percent (1.95 tonnes of CO2 per tonne of steel) and becoming carbon neutral by 2050, JSW Steel has announced an investment of USD 1 billion for decarbonization of its capacities.
As per a release, the company has developed a clear roadmap to become carbon neutral for all its divisions by 2050, well ahead of India’s commitment by 2070. It also aimed to increase its Indian capacity to 42 million tons of steel per year by September 2027 and reach 50 million tons by 2031.
JSW Steel estimated that the capacity expansion would require an amount of around USD 500 per ton of products. Over the next three years, JSW Steel is expecting capital expenditures at USD 7.72 billion.
The company plans to increase its annual consolidated capacity from the current 36.2 million TPA to 43.5 million TPA by 2027.
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In a related development, JSW Steel USA, a subsidiary of the Indian JSW Steel, has announced an investment of USD 110 million in the modernization of its steel plant in Baytown (Texas) using sustainable technologies and state-of-the-art equipment.
