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Steel major JSW Steel will invest ₹15,000 crore to expand its Vijayanagar Works Integrated Steel Facility in Ballari, Karnataka, to 18 MTPA by FY24, the company said in a statement today.
Union Steel Minister Ram Chandra Prasad Singh today laid the foundation for the new 5 MTPA project at JSW Steel facility. This brown-field expansion project is being undertaken through JSW Vijayanagar Metallics Ltd, a wholly owned subsidiary of JSW Steel Ltd.
The company said it has earmarked a capex investment of ₹15,000 crore for this expansion and is expected to be completed by FY24.
The foundation ceremony was conducted in the presence of JSW Steel Chairman Sajjan Jindal, along with other government and company officials.
The environmental clearance (EC) for the project has already been received from the Ministry of Environment, and preliminary clearance from the ‘Single Window High-Level Clearance Committee’ (SHLCC), Karnataka, has also been secured, JSW said.
As part of the 18 MTPA roadmap for its Vijayanagar works steel facility, JSW Steel aims to achieve an additional 1 MTPA expansion through upgradation of the current facility to achieve 13 MTPA capacity in the next 12 months.
Union Steel Minister Ram Chandra Prasad Singh said the expansion projects would also help in augmenting the availability of world-class steel and the progressive plans of the government.
Sajjan Jindal, Chairman of JSW Steel, the expansion reiterates JSW Steels' commitment to be a significant partner in building a stronger India through sustainable means. "The new 5 MTPA project at Vijayanagar is aligned to our sustainability goals and focus on circular economy by
optimising our water, waste, carbon and energy footprint. Through the new investments planned here, we will create new job opportunities as well as generate immense value for all our stakeholders."
JSW Steel’s manufacturing unit in Vijayanagar, Karnataka, is the largest single-location integrated steel-making facility in India, with a current capacity of 12 MTPA. The new brownfield expansion will be spread across 600 acres and includes establishing 4.5 MTPA Blast Furnace, two Steel Melt Shops 350 tonnes each and 5 MTPA Hot Strip Mill along with other allied and auxiliary facilities. JSW Steel, as part of its next phase of growth, is targeting an overall capacity of 37.5 MTPA in India & USA by FY25.
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