JSW Steel to invest $100 mn in US facility

BL Mumbai Bureau Updated - June 25, 2024 at 01:25 PM.
Parth Jindal, Director, JSW Steel USA

JSW Steel USA, Inc plans to invest $110 million in sustainable technology and modern equipment at its steel plate manufacturing facilities in Baytown, Texas.

The investment will enable the production of high-quality monopile steel plates to support the US administration’s efforts to expand offshore wind energy at 30 gigawatts by 2030, enough to power 10 million homes with clean energy, the company said.

Steel products made through this investment are aligned with the Buy America requirements for niche grades and sophisticated applications such as hydrocarbon pipelines, offshore wind towers, offshore wind platforms, high-density pressure vessels, monopile steel slabs and platforms for offshore wind towers, the company added.

Parth Jindal, Director, JSW Steel USA, said the upgrades at the plate mill will support the company’s long-term ESG initiative and the decarbonisation efforts in the US.

The new investments will enable the company to deliver high-quality steel products through a Made in America speciality steel portfolio and has the potential to reduce US import reliance in the infrastructure and renewable energy sectors, he added.

Rob Simon, CEO, JSW Steel USA, said by supplying the critical high-grade steel products for US offshore wind deployment, JSW is committed to a cleaner, greener, and better tomorrow.

The new projects build upon JSW USA’s recent $145-million investment in its Mingo Junction facility to upgrade its ‘clean steel’ manufacturing processes, the company said. This is expected to be commissioned by FY26.

Published on June 25, 2024 07:55

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