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JSW Steel to invest 15K Cr for the expansion of Karnataka

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MUMBAI : JSW Vijayanagar Metallics is undertaking a brownfield expansion project at a cost of ₹15,000 crore for the new 5 million tonnes per annum (mtpa) project at its integrated steel facility in Ballari, Karnataka, JSW Steel announced.

JSW Vijayanagar Metallics is a wholly-owned subsidiary of JSW Steel.

The project at the JSW Steel Vijayanagar Works is expected to be completed by FY24.

The manufacturing unit in Vijayanagar is the largest single-location integrated steel-making facility in India with a current capacity of 12 mtpa.

The expansion will be spread across 600 acres and includes establishing a 4.5 mtpa blast furnace, two steel melt shops of 350 tonnes each and a 5 mtpa hot strip mill along with other allied and auxiliary facilities.

“The 5 mtpa project at Vijayanagar is aligned to our sustainability goals and focus on circular economy by optimizing our water, waste, carbon and energy footprint. We will efficiently execute this brownfield expansion by leveraging our strong project capabilities and track record,” said Sajjan Jindal, Chairman, JSW Steel.

The investments planned will create new job opportunities as well as generate immense value for all JSW stakeholders, Jindal said.

“Through the introduction of artificial intelligence and other industry 4.0 interventions at this facility, it will become an integral part of our network of digitally connected smart steel factories in India,” he said.

Union Steel Minister Ram Chandra Prasad Singh laid the foundation stone of the project in Vijayanagar.

The environmental clearance for the project has been received, the company said.

As part of the 18 mtpa roadmap for its Vijayanagar steel works facility, JSW Steel aims to achieve an additional 1 mtpa expansion through upgrade of the current facility to achieve 13 mtpa capacity in 12 months.

JSW Steel, as part of its next phase of growth, is targeting an overall capacity of 37.5 mtpa in India and the US by FY25.

The brownfield expansion at JSW Steel Vijayanagar Works is part of this broader target, the company said.

JSW Steel is the flagship business of the diversified $13 billion JSW Group, which has a presence in sectors such as energy, infrastructure, cement, paints, sports and venture capital.- 

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