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Steel companies likely to add 29 million tonnes capacity in five years
Steel companies are looking to restart expansion projects on the back of surging steel prices. In the next five years, about 29 million tonnes capacity is likely to be added, with most of it expected by FY2024.
JSW Steel is looking to add 14.8 million tonnes across Dolvi (Maharashtra), Vijaynagar (Karnataka) and at Bhushan Power & Steel facility in Jharsuguda (Odisha). Tata Steel has restarted its five million tonne expansion project at Kalinganagar (Odisha). Jindal Steel & Power (JSPL) is looking to add 6 million tonnes at Angul (Odisha).
Additionally, NMDC’s Nagarnar Steel Plant, is expected to commission its three million tonne greenfield steel plant. All put, the expansion projects add up to about 29 million tonnes.
Steel companies are looking to restart expansion projects on the back of surging steel prices. In the next five years, about 29 million tonnes capacity is likely to be added, with most of it expected by FY2024.
JSW Steel is looking to add 14.8 million tonnes across Dolvi (Maharashtra), Vijaynagar (Karnataka) and at Bhushan Power & Steel facility in Jharsuguda (Odisha). Tata Steel has restarted its five million tonne expansion project at Kalinganagar (Odisha). Jindal Steel & Power (JSPL) is looking to add 6 million tonnes at Angul (Odisha). Additionally, NMDC s Nagarnar Steel Plant, is expected to commission its three million tonne greenfield steel plant. All put, the expansion projects add up to about 29 million tonnes.