Delhi, Jan 8
Union Steel Minister Ram Chandra Prasad Singh on Friday laid the foundation stone for the new 5 MTPA project at JSW Steel Vijayanagar Works integrated steel facility in Ballari, Karnataka. This brown-field expansion project is being undertaken through JSW Vijayanagar Metallics Ltd, a wholly owned subsidiary of JSW Steel Ltd. The Company has earmarked a capex investment of Rs 15,000 crore for this expansion and is expected to be completed by FY24.
The Foundation Stone laying ceremony was conducted in the presence of JSW Steel Chairman Sajjan Jindal along with other government and company officials.
The Environmental Clearance (EC) for the project has already been received from the Ministry of Environment, Forests & Climate Change, Government of India and preliminary clearance from the ‘Single Window High-Level Clearance Committee’ (SHLCC), Government of Karnataka has also been secured. As part of the 18 MTPA Roadmap for its Vijayanagar Works Steel Facility, JSW Steel aims to achieve an additional 1 MTPA expansion through upgradation of the current facility to achieve 13 MTPA capacity within the next 12 months.
Speaking on the occasion, Union Steel Minister Ram Chandra Prasad Singh lauded JSW Steel’s contribution to build a stronger India. Dwelling on the growing potential of the steel sector, Steel Minister conveyed that the expansion projects would also help in augmenting the availability of world-class steel and the progressive plans of the Ministry of Steel.