JSW Steel to invest Rs.7500 crore in upgrading Vijaynagar facility

JSW Steel plans to increase the annual steel manufacturing capacity of JSW Vijayanagar Works to 13MTPA, which is likely to be completed by March 2020. The company has also launched various other upgradation and augmentation projects which are expected to result in substantial cost savings in operations over the long term.

The following projects are initiated as part of the steel manufacturing capacity expansion at JSW Vijayanagar Works unit:

1. The company's current project to revamp and upgrade capacity of Blast Furnace-3 at JSW Vijayanagar Works is on track, which will improve hot metal availability.

2. The company will modify and enhance capacity of its Steel Melting Shop, the flat and long products mills, along with allied facilities to utilize this additional hot metal . With these projects targeted to be completed by March 2020, the crude steel capacity of JSW Vijayanagar Works unit will increase to 13MTPA.

3. The company will also set-up a 1.5MTPA coke oven plant at Vijayanagar to bridge the current and expected gaps in coke availability and is likely to be commissioned by March 2020. The coke oven unit is expected to provide significant cost savings for the company over the longer term.

4. These capacity expansion & upgrade projects being implemented at JSW Vijayanagar Works steel manufacturing unit will entail a capital investment of Rs 7,500 crore until March 2020.

Commenting on the capacity enhancement initiatives at JSW Vijayanagar Works, Dr Vinod Nowal, Deputy Managing Director - JSW Steel Ltd said, 'The new capacity creation at JSW Vijayanagar Works steel manufacturing unit supports our company's growth plans while further improving the efficiency of our manufacturing operations. With steel consumption in India expected to grow these capacity enhancement initiatives will ensure our readiness to promptly service emerging customer demand.'

JSW Steel commences operations at Tunga & Nandi Mines: JSW Steel has commenced operations at two iron ore mines (Tunga & Nandi Mines) in Karnataka for which it has already received statutory clearances. The cumulative capacity of these two iron ore mines is 0.71 MTPA. For the remaining three mines, JSW Steel expects statutory clearances and approvals during the current fiscal.