JSW Steel allocates 15,000 rupees to expand Vijayanagar plant by FY24
JSW Steel announced on Friday that it had earmarked a 15,000 crore rupee investment to build a 5 million tonne per year (MTPA) steel production capacity at its integrated plant in Vijayanagara, Karnataka.
In this regard, Union Steel Minister Ram Chandra Prasad Singh laid the foundation stone for the project in the company’s Vijayanagara unit on Friday in the presence of JSW Steel President Sajjan Jindal as well as other government and business representatives.
âSteel Minister Ram Chandra Prasad Singh today (Friday) laid the foundation stone for the new 5 MTPA project at the integrated steel plant of JSW Steel Vijayanagar Works in Karnataka.
This brownfield expansion project is being undertaken by JSW Vijayanagar Metallics Ltd, a wholly owned subsidiary of JSW Steel Ltd. The company has earmarked a capex (capital expenditure) of Rs 15,000 crore for this expansion and is expected to be completed by ‘here FY24, “JSW Steel said in a statement.
According to the statement, the expansion will cover an area of ââ600 acres and will include the establishment of a 4.5 MTPA blast furnace, two steel smelters of 350 tons each and a hot rolling mill of 5. MTPA and other related and ancillary facilities.
JSW Steel Vijayanagar Works is the largest single-location integrated steelmaking plant in India with a current capacity of 12 MTPA (million tons per year).
The company is undertaking a process of optimizing the current facility which will increase the capacity to 13 MT over the next 12 months. After the completion of the brownfield project (existing), the total installed capacity of the company in Vijaynagar will reach 18 MTPA.
JSW Steel President Sajjan Jindal said: âThe expansion reiterates our commitment to be an important partner in building a stronger India through sustainable means. The project is aligned with our sustainability goals and focuses on a circular economy by optimizing our water, waste, carbon and energy footprint. “
He said the company will effectively execute this brownfield expansion by leveraging its strong project capabilities and track record.
JSW Steel said environmental clearance (CE) for the project had already been received from the Ministry of Environment, Forestry and Climate Change. Preliminary clearance from the âSingle Window High Level Authorization Committeeâ (SHLCC), the government of Karnataka, has also been obtained.
JSW Steel is the flagship business of the diversified US $ 13 billion JSW group, operating in industries such as energy, infrastructure, cement, paints, sports and venture capital.
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