JSW Steel All Set To Become Largest Domestic Steel Maker Soon

JSW Steel is all set to become the country’s largest steel maker by April. After the new capacity addition, JSW will be able to produce 14.3 million tonnes per annum (MTPA) steel.
 
“Our expansion is on track. We should be starting our new blast furnace sometime in April end,” JSW Steel’s Director Marketing Jayant Acharya told reporters here on the sidelines of a steel conference.
 
At present, the company has a steel making capacity of about 7.8 MTPA at its Vijaynagar and Salem units. It entered into a deal in December to acquire 41.29 per cent stake in loss-making Ispat Industries having a capacity of about 3.3 MTPA.
 
By 2020, the Sajjan Jindal-led company is aiming to produce 34 million tonnes of steel annually with greenfield integrated steel plants coming up in West Bengal and Jharkhand, while adding further capacities at the Vijaynagar and Salem units.
 
Recently, JSW had announced plans to set up a new 2.3 MTPA cold rolling mill capacity in two phases at its Vijaynagar plant at an estimated investment of about Rs. 4,000 crore.
 
Asked about the status of its proposed 10 MTPA plant at Jharkhand, Acharya said, “We are still looking for land and other clearances and approvals”.
 
Talking about the iron-ore processing capacities, Acharya said that the company is in the process of putting up two iron-ore fines beneficiation plants of 10 MTPA capacities, while a 5 MTPA pellets plant will be commissioned this year. The company currently has a consolidated net debt of Rs. 14,300 crore as on December 31, 2010, while its cash reserves are at about Rs. 2,190 crore.

4