JSW Steel on Friday said that he has allocated an investment of Rs 15,000 Crore to set 5 million tons per annual steel making capacity (MTPA) at an integrated factory in Vijayanagara, Karnataka.
In this case, the Steel Minister Ram Chandra Prasad Singh on Friday lay the foundation of the project in the Vijayanagara unit of the company before the Chairman of the JSW Sajjan Jindal steel, along with the government and other company officials.
“Minister of Steel Ram Chandra Prasad Singh today (on Friday) put the foundation stone from the new 5 MTPA project at JSW Steel Vijayanagar to work in integrated steel facilities in Karnataka.”
“This Brownfield expansion project is being carried out through JSW Vijayanagar Metallics Ltd., a subsidiary that is fully owned by JSW Steel Ltd. The company has allocated capex (capital expenditure) of 15,000 crore rs for this expansion and is expected to be resolved by FY24,” said the JSW steel said in A statement.
According to the statement, the expansion will cover an area of 600 hectares and includes building 4.5 MTPA BLAST FURNACE, two melting steel stores each 350 tons, and a 5 MTPA hot strip factory along with full and additional facilities.
The JSW Steel Vijayanagar Works is the largest single-line-integrated steel-making facility in India with a capacity of 12 MTPA (millions of tons per year).
The company conducts optimization processes from current facilities that will increase capacity of up to 13 MT in the next 12 months.
After completion of the Brownfield project (available), the total installed capacity of the company in Vijaynagar will reach 18 MTPA.
JSW Steel Chairman Sajjan Jindal said, “Expansion reaffirms our commitment to become a significant partner in building a stronger India through sustainable ways. This project is harmonized with our sustainability and focus on circular economics by optimizing water, waste, carbon, and . energy trail. “
He said the company would efficiently carry out this Brownfield expansion by utilizing strong project capabilities and track records.
JSW Steel said Environmental Permit (EC) for the project was received from the Ministry of Environment, Forest and Climate Change.
The initial opening of the ‘Single Window Level Cleverce’ (SHLCC), the Karnataka Government, has also been secured.
JSW Steel is a superior business of the diverse JSW 13 billion group, which has the presence in sectors such as energy, infrastructure, cement, paint, sports and venture capital.