JSW Steel plans to achieve 45 million tonne per annum capacity well before its target of 2030 as it has marked its entry into the eastern markets with the acquisition of Bhushan Power and Steel.
Sajjan Jindal, Chairman, JSW Group, in a letter addressed to employees of BPSL, said the acquisition is an important milestone as it is the largest ever in the history of JSW Steel and establishes the company’s presence in the eastern market.
“I am aware how difficult it is to build a greenfield steel plant of the size and this asset is indeed a testament to your (employees) tireless efforts,” he said.
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As a valued member of the JSW family, he said the contribution of BPSL employees will be key to bolstering the Group’s ambitious growth plans of achieving 45 mtpa capacity well ahead of 2030 timeline while the synergies will also play a pivotal role in transforming the lives of millions of stakeholders.
“You are joining us at a crucial juncture of our journey when steel is required to build the post-pandemic infrastructure of our nation,” Jindal said in the letter.
The Eastern region of the country has had a long tradition of steel-making and JSW Steel will bring its experience of making world-class steel besides connecting Indian and global consumers to the products manufactured at BPSL, he said.
“While this is a strong business case for us, this also leads us to play an integral role in the Eastern region’s sustainable development agenda. We believe in inclusive growth for our people and communities at large and are committed to building an environment where talent is nurtured and honed. Life and livelihood opportunities find a strong platform,” he added.
Stating that the group’s success story so far has been predicted on its ability to dream big, Jindal said the collective strength and experience will enable the group to build an undisputed industry leader in India and actively participate in the nation’s journey of self-reliance.