On Monday, Texas Gov. Greg Abbott announced that he has signed a memorandum of cooperation with the Indian steelmaker and offered a US$3.4 million grant to aid in the project.

“The memorandum signed by Greg Abbott and JSW USA is part of our long-term strategy to enhance our U.S. footprint," said JSW Group’s Parth Jindal. 

“Access to natural gas at extremely economical prices and the abundant availability of scrap steel in Texas make conditions very conducive for manufacturing through the electric arc furnace route. JSW Steel (USA) Inc. wishes to create a world-class, fully integrated steel complex that will bring precision manufacturing of high-quality steel plate and pipe to Texas,” he added.  

According to The Hindu newspaper in India, JSW is proposing to invest US$150 million in the plant’s existing plate and pipe mill. Through a second phase of work, it would add a US$350 million steelmaking shop. 

The Hindu has more here.