S1
CAPITALS DEPLOYED
Financial Capital
Natural Capital
Human CapitalCAPITALS ENHANCED
Manufactured Capital~28.2 MTPA
Total domestic
installed capacity
FY 2030-31
~50.0 MTPA
Total domestic installed
capacity by FY 2030-31
Our focus on strategic growth is driven by a commitment to expand our capacities and enhance our market reach. Our initiatives go beyond merely increasing production; they also aim to optimise resources, secure raw material needs, and innovate in our product offerings. This comprehensive approach ensures that we are well-positioned to meet the growing demands of our customers while maintaining our competitive edge.
GROW
Strategic growth with
efficient capital allocation
Capex programme
We have outlined a comprehensive capex plan totalling `64,434 crore, spread across the next three financial years. The programme includes carried-forward commitments of `37,094 crore and new approvals amounting to `27,340 crore. Significant investments are allocated for expanding the Dolvi Phase-III project, with an outlay of `19,125 crore to enhance the plant's capacity by an additional 5 million tonnes per annum (MTPA).
The capex plan also includes substantial investments in growth and mining projects, as well as the modernisation of the Italy Rail Mill, with a budget of `4,665 crore. Sustenance capex, essential for maintaining operational reliability and efficiency, accounts for `3,550 crore. Approximately 95% of this investment is dedicated to strengthening operations in India, while the remaining 5% is allocated for international projects. This strategic investment is designed to support JSW Steel's ambitious growth targets, ensuring that the Company maintains its leadership in the global steel industry while contributing to sustainable development.
1: India capacity of 6.5 MnT under commissioning 2: Subject to Board approvals
Key project updates
The 5 MTPA integrated steel plant being set up by JSW Vijayanagar Metallics Limited is progressing on schedule. The Hot Strip Mill (HSM) commissioning was successfully completed, with commercial production and sales having commenced in March 2024. The full commissioning of the integrated 5 MTPA facility is expected by Q2 of FY 2024-25, with a ramp-up to optimal production anticipated by the end of Q3 FY 2024-25.
Additionally, a new 1.5 MTPA coke oven capacity has been commissioned, and an additional 1.5 MTPA coke oven capacity is scheduled for phased commissioning starting Q2 FY 2024-25, enhancing the plant's self-sufficiency in coke production.
At Bhushan Power & Steel Limited (BPSL), the Phase-II expansion, increasing capacity from 3.5 MTPA to 5 MTPA is progressing well. Key milestones include the commissioning of the Wire Rod Mill-2 and Billet Caster, with the Lime Calcination Plant 6 set to be commissioned in Q1 FY 2024-25. Full ramp-up is expected by the end of Q3 FY 2024-25, boosting BPSL’s production capacity.
The Dolvi Phase-III project will increase steelmaking capacity by 5 MTPA, raising the total to 15 MTPA. Scheduled for completion by September 2027, this brownfield expansion benefits from its strategic location near a riverine port and the industrialised market of Western India. Leveraging existing infrastructure, the project is highly value-accretive with low capex per tonne. Key components include a 5 MTPA Blast Furnace, a new converter utilising the existing SMS capacity of Phase-II, a hybrid continuous caster and mill producing plates and coils up to 2600 mm wide, and a 175 MW power plant based on BF gases.
In Jammu & Kashmir, a new 0.12 MTPA colour coating line is nearing completion, with equipment erection almost finalised and commissioning expected to begin in Q2 FY 2024-25.
In Odisha, progress on the 30 MTPA slurry pipeline project continues. So far, 157 km of welding and 122 km of lowering have been completed, with commissioning slated for FY 2026-27. This pipeline will enhance the efficiency and cost-effectiveness of raw material transportation.
Outlook
Near-term
- Commissioning of the JVML integrated 5 MTPA and associated facilities at Vijayanagar and ramp-up of the same by the end of Q3 of FY 2024-25.
- Commissioned the BPSL expansion from 3.5 MTPA to 5 MTPA and full rampup by the end of Q3 FY 2024-25, boosting BPSL’s production capacity.
- Completion of the additional 5 MTPA capacity at Dolvi by 2027, thereby increasing the total capacity to 15 MTPA.
- Establishing a 1 MTPA greenfield Electric Arc Furnace (EAF) plant in Andhra Pradesh to increase production capacity and support green steel initiatives.
- 4 MTPA green steel capacity in two phases.
- Continued exploration of value-accretive acquisition opportunities in key geographies to enhance our global footprint and operational synergies.
Long-term
- Target to reach 50 MTPA capacity in India by FY 2030-31.
- Complete the development and commissioning of the upcoming 13.2 MTPA greenfield steel plant in Jagatsinghpur district, Odisha, along with a 900 MW captive power plant; the plant will play a key role in the growth story of JSW Steel and India.
- Maintain and grow our share of steel production in India, contributing to India’s National Steel Mission.