JSW Steel, part of the $12 billion JSW Group, today announced it will invest Rs 39,715 crore over the next three years in significantly ramping up capacity, including two power plants, pellet project and coke over plants.
The announcement was part of a statement made by the company on its fourth quarter performance. The firm reported a 186 per cent jump in net profit at Rs 2,879 crore for the quarter ended March over a 16 per cent increase in total income at Rs 20,817 crore.
“The Company will set up power plants of 175 MW and 60 MW to effectively utilise flue gases and steam generated from Coke Dry Quenching (CDQ), which will lead to savings in power,” JSW Steel said.
The company had announced an overall estimated capital expenditure plan of close to Rs 26,815 crore last year. The plan is now expected to be enhanced by Rs 17,600 crore to implement a set of new projects including the power plants, a 8 MTPA pellet plant and 1.5 MTPA coke oven plant at its Vijaynagar project apart from a new coke oven plant of 1.5 MTPA capacity at Dolvi in Maharashtra. Read More