JSW Steel lays foundation stone for new 5 MTPA Project at Vijayanagar Works in Karnataka

7 Jan 2022 , 03:26 PM

Union Steel Minister, Ram Chandra Prasad Singh, today, laid the foundation stone for the new 5 MTPA project at JSW Steel Limited Vijayanagar Works integrated steel facility in Ballari, Karnataka. This brown-field expansion project is being undertaken through JSW Vijayanagar Metallics Ltd, a wholly owned subsidiary of JSW Steel Ltd (the flagship business of US$ 13 billion JSW Group).

The company said in a filing that it has earmarked a Capex investment of Rs15,000cr for this expansion and is expected to be completed by FY24. The Foundation Stone laying ceremony was conducted in the presence of JSW Steel Chairman Sajjan Jindal along with other government and company officials.

The Environmental Clearance (EC) for the project has already been received from the Ministry of Environment, Forests & Climate Change, Government of India, and preliminary clearance from the ‘Single Window High-Level Clearance Committee’ (SHLCC), Government of Karnataka has also been secured.

As part of the 18 MTPA Roadmap for its Vijayanagar Works Steel Facility, JSW Steel aims to achieve an additional 1 MTPA expansion through upgradation of the current facility to achieve 13 MTPA capacity within the next 12 months.

Union Steel Minister Shri Ram Chandra Prasad Singh lauded JSW Steel’s contribution to build a stronger India. Dwelling on the growing potential of the steel
sector, Steel Minister conveyed that the expansion projects would also help in augmenting the availability of world-class steel and the progressive plans of the Ministry of Steel, Govt. of India, company said.

Sajjan Jindal, Chairman of JSW Steel said, “This expansion reiterates our commitment to be a significant partner in building a stronger India through sustainable means. The new 5 MTPA project at Vijayanagar is aligned to our Sustainability goals and focus on circular economy by optimizing our water, waste, carbon and energy footprint. We will efficiently execute this brownfield expansion by leveraging our strong project capabilities and track record.

Through the new investments planned here, we will create new job opportunities as well as generate immense value for all our stakeholders. Through the introduction of Artificial Intelligence and other Industry 4.0 interventions at this facility, it will become an integral part of our network of digitally connected smart steel factories in India.”

JSW Steel’s manufacturing unit in Vijayanagar, Karnataka is the largest single-location integrated steel-making facility in India with a current capacity of 12 MTPA. The new brownfield expansion will be spread across 600 acres and includes establishing 4.5 MTPA Blast Furnace, two Steel Melt Shops 350 tons each and 5 MTPA Hot Strip Mill along with other allied and auxiliary facilities.

JSW Steel, as part of its next phase of growth, is targeting an overall capacity of 37.5 MTPA in India & USA by FY25. The brownfield expansion at JSW Steel Vijayanagar Works is part of this broader target.

Towards close of trade on Friday, JSW Steel Ltd was trading at Rs674.50 per piece up by Rs1 or 0.15% from its previous closing of Rs673.50 per piece on the BSE.