JSW Steel plans to invest Rs 75,000-crore in brownfield and greenfield projects to expand its capacity to 32-million tonnes per annum by 2020, a top company official said.
“We are growing very rapidly and will continue to grow...we plan to invest Rs 75,000-crore to expand our brownfield and greenfield capacity to 32-million tonnes per annum by 2020,” JSW Steel's Managing Director, Mr Sajjan Jindal, told shareholders at the company’s annual general meeting on Tuesday.
The company’s present capacity is 7.8-million tonnes. “Our greenfield projects in West Bengal and Jharkhand are making good progress. Though there are naxal problem in the two states, we will continue to work on our new projects. We will employ more poor people in our projects,” Jindal said.
“The company plans to set up a phased 10 MTPA facility in Salboni in West Bengal, ” he said, adding “it will invest Rs 150-crore to start the first four MTPA facility.” On its Jharkhand project, Mr Jindal said, “We are taking initiatives to speed-up land acquisition for our 10 MTPA project.” The company plans to commission its next phase of expansion of 3.2 MTPA at Vijayanagar. — PTI