Published On:June 14 2024
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JSW Group Announces $70 Billion Investment Plan Over 6 Years to Expand Capacity

The JSW Group has revised its investment plan, increasing it to $70 billion by 2030 while maintaining the original timeline. This updated target, up from the previously announced $65 billion, incorporates a $5 billion investment earmarked for electric vehicle (EV) projects in Odisha, unveiled earlier this year.

The Odisha initiative encompasses the establishment of a 50 GWH EV battery plant, EV manufacturing facilities, a lithium refinery, copper smelter, and associated component manufacturing units. Additionally, the group plans expansions across its steel, cement, and electricity generation sectors.

JSW Steel, the group's flagship entity, disclosed its commitment to invest approximately ₹65,000 crore over the next three years, including new capital expenditures for the Dolvi project in Maharashtra. This expansion at Dolvi will elevate JSW Steel's total capacity to 43.5 million tonnes of steel, positioning it among the world's top five steel producers.

The strategic investments reflect JSW Group's robust growth strategy and its commitment to enhancing capabilities across key sectors amid evolving market dynamics.

BS





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