February 29, 2024
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JSW Steel adding capacity with an aim to hit 50 million tonne by 2030, says CEO

Jayant Acharya, the Joint MD and CEO of JSW Steel, emphasized in an interview with CNBC-TV18 that the company is committed to playing a crucial role in meeting the rising demand for steel in India. The company aims to achieve a capacity of 50 million tonnes by 2030, with an immediate focus on launching a 5 million tonne facility in Vijay Nagar in the upcoming months. These efforts align with the broader goal of enhancing India’s steel production capabilities to support ongoing economic development.

Acharya anticipates strong demand for steel in India, projecting double-digit growth in the medium term. For the current year, JSW Steel expects a notable 14% increase in demand, reflecting a positive market outlook. He attributes this optimism to the government’s emphasis on infrastructure development, capital expenditure, and the promotion of manufacturing activities.

In response to global climate challenges and initiatives from the European Union, JSW Steel is planning to establish a green steel facility, demonstrating its commitment to environmentally sustainable practices.

Picture Courtesy: Google/images are subject to copyright

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