JSW Steel to invest Rs 5,000 crore to strengthen manufacturing capacity

JSW Steel

JSW Steel is planning to invest more than Rs 5,000 crore to strengthen its downstream manufacturing capacity. Also, the company is keen to pursue stressed downstream assets that will come up for bidding in the next round.

JSW Steel Joint Managing Director Seshagiri Rao was quoted as saying by PTI that the company which announced a capex investment programme of nearly Rs 45,000 crore to expand its capacities in Karnataka and Maharastra, is planning to invest over Rs 5,000 crore to strengthen its downstream manufacturing capabilities,

Recently, JSW Steel had decided to invest around Rs 350 crore to set up two pipe conveyor projects to transport ore from the mines to its plant in Karnataka.

Expected to be completed by the end of the present financial year, these projects will save the company around Rs 350 crore – in annual logistics cost to transport the raw material.

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Author: Research Desk