JSW Steel to invest ₹4,500 cr in mining, green energy.

JSW Steel will invest ₹4,500 crore to modernise its iron ore mining operations and enhance its green power generations in joint venture with JSW Energy.

The company plans to invest ₹3,500 crore to deploy high-end machines at its iron ore mines, set up beneficiation plant of 30 million tonnes(mt), digitise entire mining operations and deploy electric vehicles for movement of ores mined to cut carbon emissions. 

Seshagiri Rao, Joint Managing Director, JSW Steel told businessline that the company’s mines are currently operated by third party contractors and it will be taken over by the company soon. The scope for improving mining operations has already been identified and orders for modern equipment has been placed, he said.

Currently, JSW Steel owns 13 iron ore mines (nine in Karnataka and four in Odisha), with aggregate reserves of 1.35 billion tonnes. It produced 32.13 mt of iron ore from its captive mines last fiscal accounting 43 per cent of its total requirement against 28 per cent logged in the previous year.

HBL