JSW Initiates $ 1,132.86 Million Capital Investment

At a time when the domestic steel market in India is going through a difficult time, JSW is planning to invest $ 1,132.86 million in its steel production. The company also plans to build the world's largest blast furnace with a capacity of 500 cubic meters.

The company has now developed a capital expenditure program that assumes a constant increase in the volume of capital expenditures in the future. The chairman and also the managing director of the company Sajan Jindal noted the urgency of environmental issues in the steel industry and future projects raised by the previous government of the country. He stated that the steel industry is being hit hard by an oversupply of products across the globe, especially those offered by China.

Growth in the steel industry in India has declined over the past three years and is now very slow. During the era of India's previous government, many local environmental green projects were rejected or even closed. Now, with the arrival of the new government, some changes have already been made to address environmental issues, and the basic laws related to this are already in place.

In line with the new government's Make in India strategy, the JSW campaign is flourishing, with the main goal of the campaign currently aiming to increase the country's iron ore production to 300 million tonnes by 2025. Jindal said that in order to achieve this, the country will have to move its production to a new technological level.