JSW Steel Aims to Replace Imports with New Coated Steel Product
Steel

JSW Steel Aims to Replace Imports with New Coated Steel Product

JSW Steel, India's largest steelmaker, is set to replace the country's imports of a vital coated steel product with its newly developed JSW Magsure. This zinc-magnesium-aluminium alloy coated steel, crucial for highly corrosive environments in the renewable energy sector, saw a demand of 100,000 tonnes in 2023-24.

"Demand for this product is expected to go up to 250,000 tonnes this year, driven by renewable energy, and we are targeting a production of 145,000 tonnes," Ashwani Sharma, Executive President for JSW Steel Coated Business said.

JSW Steel plans to supply 120,000 tonnes of JSW Magsure domestically and export 25,000 tonnes. Already, 5,000 tonnes have been supplied to Adani Green Energy, with negotiations for an additional 5,000 tonnes over the next three months.

The company is also in discussions with Reliance Industries and NTPC, according to Sharma. While another product, JSW Galvalume, meets the demand for corrosion-resistant steel, JSW Magsure offers even higher corrosion resistance.

Manufactured at JSW Steel's facilities in Vijayanagar and Vasind, the company has invested 5 billion rupees in capital expenditure and will have the capacity to produce up to 900,000 tonnes annually.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

JSW Steel, India's largest steelmaker, is set to replace the country's imports of a vital coated steel product with its newly developed JSW Magsure. This zinc-magnesium-aluminium alloy coated steel, crucial for highly corrosive environments in the renewable energy sector, saw a demand of 100,000 tonnes in 2023-24. Demand for this product is expected to go up to 250,000 tonnes this year, driven by renewable energy, and we are targeting a production of 145,000 tonnes, Ashwani Sharma, Executive President for JSW Steel Coated Business said. JSW Steel plans to supply 120,000 tonnes of JSW Magsure domestically and export 25,000 tonnes. Already, 5,000 tonnes have been supplied to Adani Green Energy, with negotiations for an additional 5,000 tonnes over the next three months. The company is also in discussions with Reliance Industries and NTPC, according to Sharma. While another product, JSW Galvalume, meets the demand for corrosion-resistant steel, JSW Magsure offers even higher corrosion resistance. Manufactured at JSW Steel's facilities in Vijayanagar and Vasind, the company has invested 5 billion rupees in capital expenditure and will have the capacity to produce up to 900,000 tonnes annually.

Next Story
Infrastructure Transport

DigiYatra Launched at 9 Airports

Civil Aviation Minister K. Ram Mohan Naidu has launched the DigiYatra program at nine Indian airports, marking a significant step in enhancing air travel efficiency. This initiative leverages facial recognition technology for paperless, seamless boarding and check-in processes. DigiYatra aims to reduce wait times, improve passenger convenience, and ensure a smooth airport experience. The airports included in the launch are major hubs like Delhi, Mumbai, and Bengaluru, as well as regional airports, showcasing the government's commitment to digital transformation in aviation. Key Highlights: Lau..

Next Story
Infrastructure Transport

Galathea Container Transhipment Port to be Built

A Special Purpose Vehicle (SPV) has been established to construct the Galathea Container Transhipment Port in Great Nicobar, marking a significant step for India's maritime infrastructure. The SPV is a collaboration among four major ports: Jawaharlal Nehru Port, Deendayal Port, Paradip Port, and V.O. Chidambaranar Port. This port is expected to bolster India?s transhipment capabilities, reduce dependency on foreign ports, and enhance trade flow in the region. Key Highlights: SPV Collaboration: Jawaharlal Nehru Port (JNPT), Deendayal Port, Paradip Port, and V.O. Chidambaranar Port have joined f..

Next Story
Infrastructure Urban

Adani Group to Raise $1.5 Billion

The Adani Group plans to raise at least $1.5 billion by issuing dollar-denominated bonds, according to Bloomberg News reports. This move is part of the conglomerate's strategy to strengthen its financial position and fund its expansive infrastructure and business projects. The bond issuance is expected to bolster the group's capital base and support ongoing and future ventures. Key Highlights: Funding Through Dollar Bonds: Adani Group is set to raise $1.5 billion by issuing dollar bonds. This strategy will provide the conglomerate with substantial funds to support its wide range of business op..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000