JSW Steel has proposed an investment of upto US$ 500 million in acquiring, enhancing & upgrading Acero Junction Inc, an integrated steel manufacturing unit with a potential capacity of 3 MTPA, located at Ohio USA, in phases. This takes JSW's overall investment blueprint for the US market, to produce American melt and manufactured steel, to up to US$ 1 billion.
In Phase 1, JSW will revamp & restart the electric arc furnace and the slab caster, and modernize the hot strip mill. The proposed investment including the cost of acquisition, is expected to be approximately US$250 million.
In Phase 2, depending upon the economic viability & prevailing market conditions, JSW will evaluate the possibility of adding another electric arc furnace as well as additional manufacturing equipment at the hot strip mill to make the Ohio facility a fully integrated unit with 3 MTPA capacity. The proposed investment in Phase 2 could be in the range of upto US$250 million, subject to feasibility studies & necessary approvals.
The integrated steel manufacturing unit in Ohio, with a potential capacity of 3 MTPA, was acquired as part of the recently concluded Acero Junction Holdings Inc. deal.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)