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JSW Steel Italy to restart production at Piombino
Thehindubusinessline
·
1y ago
Medial
JSW Steel Italy has signed an MoU with the Italian government to invest €140 million in restarting production at the Piombino plant. The company plans to double the rail-making capacity and make the mill more efficient and modern. The project aims to reduce steel imports into Italy and boost local employment. JSW Steel Italy acquired Aferpi, Piombino Logistics, and GSI Lucchini in 2018. Chairman Sajjan Jindal believes the investment will transform the Piombino mill into the most technologically advanced rail mill in Europe.
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JSW Steel appoints Robert Simon as CEO for US operations
Money Control
·
1y ago
Medial
JSW Steel has appointed Robert Simon as the new CEO of its US unit. Simon will oversee the overall business, including slab, coil, pipe, and plate production, and sales at Baytown and Mingo Junction. JSW Steel has a 1.5 million tonnes per annum steel-making capacity in Ohio, as well as downstream facilities in Texas. Simon previously consulted with companies like OmniTrax and served as CEO for Bayou Steel Group. His appointment follows the departure of Mark Bush in 2022.
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Ford in talks with JSW for India re-entry
Livemint
·
10m ago
Medial
Ford Motor Company is reportedly in discussions with JSW Group, led by Sajjan Jindal, to restart operations at its Chennai facility for production purposes. The talks come after Ford signed a letter of intent with the Tamil Nadu government to repurpose the factory for export markets. Details of the potential alliance with JSW Group are still unclear and are regarded as exploratory conversations at this stage. Ford is committed to India as an important market and currently employs 12,000 individuals in the country.
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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 eyes acquisition of 20% stake in Australian coal mine
Money Control
·
1y ago
Medial
Indian steel company JSW Steel is reportedly in talks to acquire a 20% stake in the Blackwater coal mine in Australia, owned by Whitehaven Coal. The deal is estimated to be worth between $750 million and $1 billion. The Blackwater mine is one of the largest open-cut metallurgical coal producers in Australia's Bowen Basin. JSW Steel has been actively seeking to secure its coking coal supply and increase its production capacity. Other interested parties in the Blackwater mine include the AvidSys Group and Japanese trading houses Itotchu, Marubeni, and Sojitz.
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JSW Steel to pour most of its Rs 20,000 crore capex into Dolvi plant
Economic Times
·
19d 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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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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ArcelorMittal's India JV seeks duty-free LNG imports, letter shows
Money Control
·
10m ago
Medial
ArcelorMittal's India joint venture, AM/NS India, has requested that the Indian government eliminate the import tax on liquefied natural gas (LNG) for steelmaking purposes. The company believes that removing the tax would help reduce production costs and support decarbonisation goals. Steel production accounts for approximately 8% of global carbon emissions, and using LNG instead of coal as a fuel source can help lower emissions. AM/NS India's proposal, if accepted, would also benefit other steelmakers in the country, such as JSW Steel and Tata Steel.
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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 Steel to spend $110 million on US facility to support US' green energy push
Livemint
·
1y ago
Medial
JSW Steel has announced plans to invest $110 million in upgrading its subsidiary's manufacturing facility in Baytown, Texas. The upgrade will enable the production of high-quality monopile steel plates used in offshore wind energy generation. The move aligns with the US government's goal of deploying 30 GW of offshore wind energy by 2030. Additionally, the investment will support the production of American-made steel slabs for niche applications such as hydrocarbon pipelines, offshore wind towers, and high-density pressure vessels. This expansion aims to reduce US import reliance in the infrastructure and renewable energy sectors.
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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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