JSW Steel has acquired the land at INR 23 crore, which is about 4 km away from its existing integrated steel plant in Dolvi village. The construction of the recycling plant will be completed in 12-18 months.
December 20, 2022
JSW Steel, the flagship company of JSW Group, is planning to invest INR 175 crore. The funds will be infused in a joint venture with New Zealand-based National Steel Holdings. This investment will be directed towards establishing a metal recycling plant at Pen in Raigad district, Maharashtra.
JSW Steel has acquired a land parcel of 30.5 acres at a cost of INR 23 crore – as published in news reports. The land is about 4 km away from its existing 10 Million Tonne Per Annum (MTPA) integrated steel plant in Dolvi village.
As reported, recycled steel will be utilised in the steel manufacturing plant. The construction of the recycling plant will be completed in 12-18 months. After the completion and commissioning, the joint venture company will replicate it at the company’s other steel plants.
Further, JSW Steel’s recently declared investment proposal of more than INR 48,000 crore in the next three years is a part of its capital expenditure proposal in a bid to expand its capacity. Of this, an investment of nearly INR 20,000 crore is earmarked for the ongoing FY22-23, as informed by the company’s CMD Mr. Sajjan Jindal.
In these three decades, JSW Steel has become India’s leading integrated steel company with a capacity of 28.5 MTPA in India and the USA.