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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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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 Infrastructure looking to make entry in Gujarat with greenfield port
Thehindubusinessline
·
1y ago
Medial
JSW Infrastructure, a port operator, is planning to invest in a new port in Gujarat, despite having no presence in the state. Gujarat is attracting investments due to its robust infrastructure, manufacturing growth, and favorable business environment. JSW Infrastructure aims to focus on greenfield investments and acquire specific terminals through brownfield investments. The company currently operates 10 ports and terminals in India and one in the UAE. In addition to the planned Gujarat port, it is also investing in ports in Karnataka and Odisha, with the latter expected to be commissioned within three years.
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Adani to build its first cement factory from scratch
Livemint
·
9m ago
Medial
Adani Group is in talks with the Odisha government to build a greenfield cement factory in the state. Ambuja Cements, a subsidiary of Adani, is expected to establish a 4 million tonnes per annum unit at a cost of ₹3,000-3,500 crore. The company aims to become India's largest cement maker and has already announced plans to build a clinker grinding unit in Bihar. The Odisha plant will further expand Adani's presence in the eastern region. The group plans to finance the expansion using internal accruals and has enough funds even after recent acquisitions.
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JSW Cement promises expansion spree to double capacity but says no to buyouts
Livemint
·
4d ago
Medial
JSW Cement plans to double its production capacity to 42 million tonnes within four years by using IPO proceeds and group synergies, according to managing director Parth Jindal. The company aims to leverage access to slag from JSW Steel to produce cost-effective GGBS cement. This expansion targets a greater presence in central and northern India, with the goal of increasing its market share from the current 3% to 10% in India’s competitive cement industry.
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JSW Group doubles down on EVs with plans for e-buses, e-trucks
Livemint
·
1y ago
Medial
JSW Group, led by Sajjan Jindal, is entering the electric vehicle market by planning to manufacture electric buses and eventually electric trucks in Odisha. The group is seeking a partner to manufacture the vehicles and aims to establish a lithium-ion cell manufacturing plant in Odisha. JSW hopes to take advantage of the government's push for widespread adoption of electric buses and leverage its expertise in steel and battery manufacturing to drive down costs. The company has also applied for the government's production-linked incentive scheme for advanced chemistry cells.
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JSW Steel inks pact with South Korea's POSCO to set up steel plant
VCCircle
·
9m ago
Medial
JSW Steel, India's largest steelmaker, has signed a preliminary agreement with South Korea's POSCO to establish an integrated steel plant with a capacity of 5 million metric tons per year. The companies will also collaborate on battery materials for electric vehicles and renewable energy for the plant's needs. This partnership aims to develop a state-of-the-art steel plant and an electric vehicle ecosystem in India. POSCO had previously scrapped plans for a $12 billion steel plant project in Odisha due to delays in land acquisition.
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JSW Steel to buy $120 mn stake in Australian firm to expand coal reserves
VCCircle
·
12m ago
Medial
Indian steelmaker JSW Steel has announced plans to purchase a 67% stake in Australian private firm M Res NSW HCC for $120m. The move will enable JSW Steel to expand its coal reserves and ensure a reliable supply of raw materials for its operations. The company will hold a stake in coal mines in southern Australia with reserves of 99 million metric tonnes and an annual capacity of 6.5 million tonnes. JSW Steel intends to make the purchase through its Netherlands-based unit, and also plans to invest an additional $50m by 2023.
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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 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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Jindal Stainless to invest $647 mn for expansion
VCCircle
·
1y ago
Medial
Indian stainless steel producer, Jindal Stainless, has announced plans to invest $646.6 million in acquisitions and capacity expansion. The company will acquire a 54% stake in Chromeni Steels, as well as enter into a joint venture for a stainless steel melt shop in Indonesia. The investments will increase Jindal Stainless' melting capacity by more than 40% and expand its downstream lines in Odisha state.
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