JSW Steel is on plan to grow its capacity to 37 million tpa, and then to 50 million tpa by the end of the decade. They are also adding capacity in downstream industries like packaging and tin plates. Read SURFACES REPORTER (SR)'s complete report below:
The steel company will be able to broaden its line of value-added goods while concentrating on retail markets as a result. The company has already put 225 MW of solar capacity online and anticipates commissioning 1,000 MW of solar and wind capacity in the near future.
JSW Steels has planned to utilise Rs 18,800 crore for capital expenditure in FY24. The primary focus being completion of the five million tonne brownfield expansion project at Vijayanagar and phase-II ramp-up of Bhushan Power & Steel (BPSL) capacity to five million tonnes.
Additionally, they have allocated a portion towards downstream capacities at Rajpura and Jammu & Kashmir and for backward integration into mining facilities. All this will be funded by internal accruals as well as raising Rs 18,000 crore through various debt refinancing options. Last year, JSW Steel had spent Rs 14,214 crore on capex.
Image Credits: Economic Times
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