The investment will be utilized in steel plate mill modernization projects, enabling the production of high-quality monopile steel plates.
Jun 28, 2024
JSW Steel USA, Inc. a subsidiary of JSW Steel Ltd. plans to invest USD 110 million in steel plate mill modernization projects with sustainable technology and state-of-the-art equipment within its manufacturing facilities in Baytown, Texas. The investments will enable the production of high-quality monopile steel plates to support the U.S. Administration’s new actions to expand offshore wind energy by deploying 30 gigawatts (GW) of offshore wind by 2030, enough to power 10 million homes with clean energy.
Steel products made through this investment are aligned with Buy America requirements for niche grades and sophisticated applications such as hydrocarbon pipelines, offshore wind towers, offshore wind platforms, high-density pressure vessels, monopile steel plates and platforms for offshore wind towers.
Commenting on the new investments, Mr. Parth Jindal, Director of JSW Steel USA said, “The new upgrades at our plate mill support the long term ESG initiative of JSW USA and support decarbonization of the energy spectrum in the United States of America. The new investments will enable us to progressively deliver high quality steel products while further defining our niche markets through a Made in America specialty steel portfolio. These investments have the potential to significantly reduce U.S. import reliance in the infrastructure and renewable energy sectors.”
According to Mr. Rob Simon, CEO of JSW Steel USA said, “By supplying the critical high-grade steel products for U.S. offshore wind deployment, JSW is committed to a cleaner, greener, and better tomorrow. I am proud to announce this investment, as a reflection of the longlasting relationship between the U.S. and India in this critical industry.”
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Through these proposed investments, JSW USA will enhance its domestic manufacturing capabilities for end-use within the renewable energy & infrastructure sectors. In doing so, JSW USA will expand its “Made In USA” product portfolio by insourcing the production of American-made steel slabs from its production facilities at Mingo Junction, Ohio. This portfolio expansion will also support the expanded development of the domestic renewable energy market by increasing JSW USA’s service capacity towards its customers within the offshore wind market. These new projects, which further build upon JSW USA’s recent USD 145 million investment in its Mingo Junction facility to upgrade its “clean steel” manufacturing processes, are expected to be completed & commissioned by FY26.
