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India's JSW Steel has earmarked 2 billion U.S. dollars to expand its capacity by 5 million tons per annum (MTPA), the company said in its filing with the Bombay Stock Exchange Friday.
The brown-field expansion, for which the foundation stone was laid on Friday, will be spread across 240 hectares at Ballari in India's South Western state of Karnataka. The project is expected to be completed by 2023-2024.
The expansion includes establishing 4.5 MTPA Blast Furnace, two steel melt shops that are 350 tons each, and 5 MTPA Hot Strip Mill along with other allied and auxiliary facilities.
The JSW Steel has a current capacity of 28 MTPA in India and the United States, including their joint-ventures. It has a roadmap of achieving a 37.5 MTPA steel capacity by financial year 2024-25, the filing said.
Source | Xinhua
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