Is JSW Steel going aggressive on its expansion plans in the Indian market?
Answer
Answer
JSW Steel plans to invest a massive Rs.25,115 crore over the next 3 years to double its annual steel capacity to 37.5 MT. Sajjan Jindal mentioned this in a letter to shareholders. JSW Steel has invested Rs.48,000 crore in expanding capacity in the last 3 years. This outlay will take the total expansion driven investment in 5 years to Rs.73,115 crore or close to $10 billion.
JSW Steel has current crude steel capacity of 18 MT consisting of 12.5 MT of flat products and 5.5 MT of long products. In the expansion plan, Jindal will add 7.5 MTPA at Vijayanagar plant, in the state of Karnataka.