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JSW Steel earmarks Rs 20,000 crore capex for FY25
Money Control
·
1y ago
Medial
Indian steelmaker JSW Steel is planning to invest INR 20,000 crore ($2.7 billion) in the fiscal year 2024-25 as part of its goal to increase its capacity to 50 million tonnes by 2031. The company had originally set a capex target of INR 20,000 crore for FY24, but revised it to INR 18,000 crore due to timing issues. The remaining capex will be carried forward to the next financial year. JSW Steel expects to spend INR 23,000 crore in FY26 and INR 21,434 crore in FY27.
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Post-poll pickup in capex will drive steel demand: JSW Steel CEO
Money Control
·
1y ago
Medial
JSW Steel, a steel manufacturing company in India, predicts a strong domestic demand for steel after the elections. JSW Steel plans to spend INR 20,000 crore to increase its capacity to 50 million tonnes by 2031. The company expects to finance this expansion through internal cash generation and has no plans for an equity issue. Despite a decline in net profit in Q4 due to higher coking coal prices and weaker steel prices, JSW Steel remains optimistic, as it expects a correction in raw material prices and anticipates strong steel demand in India.
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JSW Steel and Japan's JFE form JV to produce grain-oriented electrical steel in India
Money Control
·
1y ago
Medial
JSW Steel has partnered with JFE Steel Corporation to establish JSW JFE Electrical Steel, a joint venture focused on producing grain-oriented electrical steel in India. The manufacturing base will be in Karnataka's Bellary, with an investment of Rs 5,500 crore. The production is scheduled to begin in fiscal year 2027, with plans for further capacity expansion. Grain-oriented electrical steel is vital for energy-efficient transformers and the global market for this type of steel is projected to grow to $18.81 billion by 2030.
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JSW Steel to pour most of its Rs 20,000 crore capex into Dolvi plant
Economic Times
·
21d ago
Medial
JSW Steel plans to allocate most of its ₹20,000 crore capital expenditure for the financial year towards expanding its Dolvi plant capacity from 10 to 15 million tonnes, said CEO Jayant Acharya. The expansion is the third phase at Dolvi, expected to complete by September 2027, forming part of JSW's aim to reach 50 million tonnes annual steel production by 2030-31. Funding mainly from internal accruals, the firm seeks to reduce capital costs.
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Odisha CM lays foundation stone for JSW Group's Rs 65,000 crore steel facility
Money Control
·
1y ago
Medial
Odisha Chief Minister Naveen Patnaik has laid the foundation stone for JSW Group's steel project in Odisha, with an estimated investment of Rs 65,000 crore ($8.8 billion). The project, set to be located at Dhinkia Nuagaon and Gadakujanga, will have an annual steel manufacturing capacity of 13.2 million tonnes, along with a cement manufacturing unit and a modern township. JSW Steel expects the project to generate approximately 30,000 direct and indirect jobs and drive economic growth in the region.
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JSW Steel-Japan's JFE Steel JV to acquire Thyssenkrupp Electrical Steel India for Rs 4,051 crore
Money Control
·
9m ago
Medial
JSW Steel has announced a joint venture with JFE Steel Corp, a Japanese steel company, to acquire 100% of Thyssenkrupp Electrical Steel India for INR 4,051 crore. The acquisition, in line with JSW Steel's strategy to enhance its proportion of value-added steel products, will enable them to enter the grain-oriented electrical steel manufacturing and sales business. The deal is subject to approval from the Competition Commission of India.
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JSW to invest ₹65,000 cr for greenfield steel, cement plants in Odisha
Livemint
·
1y ago
Medial
JSW Steel has laid the foundation stone for a ₹65,000 crore greenfield integrated steel manufacturing complex in Paradip, Odisha. The complex will include a 13.2 MTPA capacity steel plant, a captive power plant, jetties, a cement manufacturing unit, and a modern township. The project, expected to drive economic growth in the region, aims to create around 30,000 direct and indirect jobs. JSW Steel plans to adopt green technologies and circular economy practices in the facility.
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Capex of Small Pvt Airports May Rise Up to 60 % on Average Over Next 3 yrs: Crisil
OutlookIndia
·
3m ago
Medial
Capital expenditure for small private airports in India is projected to rise by 50-60% over the next three years due to increased terminal utilization, according to Crisil. This growth responds to a 45% annual rise in passenger traffic between FY22 and FY25. Meanwhile, capex at large airports is expected to decline, as many projects are nearing completion. Overall, private airport capex might reduce to Rs 40,000 crore.
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JSW One Platforms gets $1 bn valuation in new funding round
VCCircle
·
2m ago
Medial
JSW One Platforms Ltd, a B2B digital marketplace for industrial material procurement, has raised Rs 340 crore ($40 million) in a funding round that values the company at around $1 billion. Investors include Principal Asset Management, OneUp, and JSW Steel. The funds will help expand service networks, scale the brand and finance arm, and invest in technology and logistics. The company aims to strengthen its supply chain leadership and enhance its offerings for MSMEs.
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JSW Cement gets SEBI nod to garner Rs 4,000 Cr via IPO
YourStory
·
6m ago
Medial
JSW Cement, under the JSW Group, received SEBI's nod for a Rs 4,000 crore IPO, involving a fresh issue of Rs 2,000 crore and an Offer-for-Sale by stakeholders. Key sellers include AP Asia and Synergy Metals at Rs 937.5 crore each, and SBI at Rs 125 crore. Proceeds will fund a new Rajasthan unit and debt repayment. By FY24, JSW Cement's revenue was Rs 6,028.10 crore with liabilities of Rs 8,933.42 crore and a 20.60 MTPA capacity.
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JSW teams up with Japan's JFE to acquire Thyssenkrupp's India arm
VCCircle
·
9m ago
Medial
JSW Steel has announced a joint venture with Japan's JFE Steel to acquire Thyssenkrupp's Indian unit for $480 million. The 50:50 joint venture, called JSW JFE Electrical Steel, will take over Thyssenkrupp Electrical Steel India. The deal involves the transfer of technology package relating to the operations of Thyssenkrupp Electrical Steel. The transaction is subject to approval from the Competition Commission of India and is expected to be completed within eight months.
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