Biznextindia : JSW Steel, India’s leading steel producer has reported 3% drop in Crude Steel output at 1.41 Million Tonnes (MT) in January 2020, as compared to 14.53 MT in January 2019.
Both the production of Flat-rolled and Long Rolled products have declined by 1% each to 1.02 MT and 0.34 MT respectively.
Currently, the Sajjan Jindal controlled steel company has an installed capacity of 18 MTPA and it has plans to scale it up in India and abroad through both Greenfield and Brownfield projects.
The company has proposed to set up a 12 MTPA Greenfield Steel project in Odisha’s Paradip. It has already secured public consent for the project and is expected to start the project work soon. The Steelmaker is planning to invest about Rs.53700 crore in the project which includes a 12 MTPA Steel plant with 900 MW captive power plant, an all-weather multi-cargo Greenfield jetty with handling capacity of 52 MTPA.
Apart from the Greenfield Odisha project, JSW is also expanding the capacity of its Dolvi plant from 5 to 10 MTPA and Vijaynagar plant from 12 MTPA to 13 MTPA. The company expects to commission the new 5MTPA capacity at Dolvi before March.
Keeping this in view, the company is also securing its Raw material linkage by acquiring new Iron Ore mines in Odisha and scaling up production in its Karnataka mines.
JSW is aggressively bidding in the ongoing mines auction in Odisha and has already bagged 4 Iron Ore mines including the giant Nuagaon Mines which has estimated Iron Ore reserve of 790 MT.