JSW Steel increased steel production by 10% y/y in April-June

During the first quarter of the 2023/2024 financial year, the company's Indian plants produced 6.19 million tons of steel

In April-June 2023 (the first quarter of the 2023/2024 fiscal year), the Indian steel company JSW Steel increased steel production by 10% compared to the same period in 2022 – up to 6.19 million tons. Kallanish reports about it.

Steel production at JSW Ispat Special Products (JISPL) during this period increased by 63.6% compared to the first quarter of the 2022/2023 fiscal year – up to 0.18 million tons, and JSW Steel USA increased by 50% y/y – up to 0.24 million tons.

The consolidated output of steel at the company’s enterprises amounted to 6.61 million tons, which is 12% more compared to the first quarter of the last financial year.

JSW Steel is the largest steel producer in India, the capacity of which is 29.7 million tons/year at domestic enterprises and in the USA. As BQ reported, within the next three years the company plans to double its capacity to 50 million tons. For this, projects from renewable energy sources will be implemented.

«Today, at JSW Steel, we have a capacity of 28 million tons, but next year we aim to increase it to 37 million tons, and in three years – to 50 million tons,» said the head of the group Sajjan Jindal.

According to him, the company pays great attention to environmental friendliness and already has a plan for the complete transfer of production energy supply to renewable energy sources. While increasing production capacity, JSW Steel is gradually adding additional renewable energy capacity to become fossil fuel independent soon.

As GMK Center reported earlier, JSW Steel in 2022-2023 financial year increased steel production by 25% compared to the 2021-2022 financial year – up to 23.62 million tons. The volume of steel production by the Indian company in the fourth quarter of the 2022-2023 fiscal year amounted to 6.37 million tons, which is 12% more compared to the same period of the previous financial year.