JSW Steel, in a press release, announced a 9 per cent year-over-year increase in its consolidated crude steel production for July 2024, reaching 22.15 lakh tonnes. The company’s India operations saw a 13 per cent growth, producing 21.40 lakh tonnes of crude steel.
The capacity utilization at Indian facilities stood at 91 per cent for the month. JSW Steel USA - Ohio contributed 0.75 lakh tonnes to the total production.
The shares of JSW Steel Limited were trading at ₹895.45, up by 9.05 points (1.02 per cent) on BSE at 10:05 am on Friday.
This growth comes as part of JSW Steel’s expansion plans, which aim to increase its total capacity from the current 35.7 MTPA to 43.5 MTPA by September 2027. The company’s Vijayanagar plant in Karnataka, with a capacity of 17.5 MTPA, remains India’s largest single-location steel-producing facility.
JSW Steel stated that it has also committed to reducing its CO2 emissions by 42 per cent from steel-making operations by 2030 and achieving carbon neutrality for all operations under its direct control by 2050. The company aims to power its steel-making operations entirely by renewable energy by 2030.
The steel manufacturer has received recognition for its sustainability efforts, including the World Steel Association’s Steel Sustainability Champion award for six consecutive years from 2019 to 2024.