JSW Steel Reports April Crude Steel Production Figures
JSW Steel attributed the marginal reduction at consolidated level to a shutdown of Blast Furnace three at Vijayanagar for capacity upgradation, which affected Indian operations. Excluding output lost from Blast Furnace three, the company reported production growth of about 10 per cent driven by the full ramp-up of JVML operations. Capacity utilisation for Indian operations excluding the offline furnace was reported at 94 per cent and at 83 per cent when the offline capacity was included.
The company description in the release positioned JSW Steel as the flagship business of the diversified JSW Group and stated consolidated crude steel capacity of 35.7 MTPA including 1.5 MTPA in the United States, with domestic capacity of 34.2 MTPA. The release added that the next phase of growth is intended to take consolidated capacity to 48.9 MTPA over the next four years and reiterated that the Vijayanagar plant has current capacity of 17.5 MTPA.
The statement highlighted sustainability credentials and targets, including a commitment to reduce CO2 emissions by 42 per cent from steel making operations by 2030 and to achieve net neutral carbon emissions for operations under direct control by 2050. The release also included a standard forward looking cautionary note setting out that a range of risks and uncertainties could affect actual results, and it provided a media contact for enquiries.