JSW Steel Looks to Grow Domestically and Internationally
06/26/2018 - India’s JSW Steel is allocating US$1 billion toward capital improvements at its plants in Texas and Ohio as it looks to increase its companywide capacity, company officials said Tuesday.
During the Steel Success Strategies conference in New York, Sanjay Jayram, JSW’s executive vice president for sales and marketing, said the company is targeting 40 million metric tons of steelmaking capacity through greenfield projects and brownfield acquisitions, both in India and abroad.
In the U.S., the company is spending US$500 million each at its plate and tube mill in Baytown, Texas, and its newly acquired hot strip mill in Mingo Junction, Ohio. At Baytown, the company plans to revamp the plate mill and install a new hot end. At Mingo Junction, it plans to restart an electric arc furnace and add a second.
“(JSW Steel USA) will be at 4 million tons in short order,” said John Hritz, president and chief executive of JSW’s U.S. subsidiary.
“When we are finished, we will be the lowest cost, most high-tech facility of its kind in the U.S. We will pick the niche markets that we want to participate in,” he said.
