JSW Steel firmly believes in the role, scope and importance of steel in building tomorrow’s India
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At JSW steel, the belief is extremely strong that tomorrow’s India will be built with the strength of steel. In line with this, steel consumption and production in India is expected to rise significantly, the company firmly believes. As one of the largest Indian steel companies, JSW Steel is cognisant that its superior-quality and distinctive steel products will have an important role to play in India’s growth story going forward. That is why it is ramping up its domestic steelmaking capacity – from 18 MTPA in 2019 to 45 MTPA by 2031. In order to keep the steel production on, it lined up its capex programme of Rs 48,715 crore to be spent between FY 2017-18 to FY 2021-22, it said. “In line with the government’s vision of increasing Indian steelmaking capacity to 300 mt by 2031, JSW Steel envisions increasing its domestic capacity in India to 45 mt over the same time period,” it said.
The company has robust technological competence with a combination of state-of-the-art steel-making technologies such as Corex, Direct-Reduced Iron and Blast Furnace. To stay on the leading edge of technological advancement, the company has entered into a collaboration with JFE Steel Corporation, Japan for manufacturing high-strength and advanced high-strength steel for the automobile sector. It has also inked a JV with Marubeni-Itochu Steel, Tokyo, to set up the state-of-the-art steel processing centres. To strengthen its global network, it acquired a pipe- and plate-making steel mill in Baytown, Texas in the US. Its global presence in steelmaking (US), value-added facilities (US and Italy) and mining assets (Chile, US and Mozambique) make it a leading player in the industry.
JSW Steel features among the list of the world’s top 20 steel producers in terms of tonnage. It is also one of the largest steelmakers in India with seven state-of-the-art, strategically located facilities within the country. Apart from its domestic production units, it acquired facilities in Italy and in the US to further its strategic global footprint. The facilities, operating at one of the most efficient EBITDA/tonne levels, have enabled JSW Steel to be a leading producer with a large portfolio of value-added and special products.
JSW Steel is one of India’s largest steel exporters with an average 15 per cent of its produce exported globally per annum. It is nimble-footed and well-placed to strategically shift its focus between exports and domestic sales, in line with the market conditions.
Under the banner of JSW Shoppe, the Company has set up a vast retail presence across the length and breadth of India, where customers can access the top range of steel products and steel-related services, including financing. Run on a franchisee model, JSW Shoppe is an initiative by JSW Steel to offer branded steel and steel products to semi-urban and rural markets.
Commenting on its growth story in the last fiscal, Sajjan Jinda, CMD of the company said: “FY 2018-19 was indeed a year of two halves for India – with very strong business environment in the first half and a challenging second half after the onset of certain strains in the overall financial system. We delivered strong profitable performance on higher steel spreads in the first half, focussed on cost reduction and brought about favourable change in our portfolio mix towards value-added and special products.”