JSW Steel Sees Growth in Crude Steel Production with 2.3% Rise to 7.03 million Tonne MT

JSW Steel, under its CEO Sajjan Jindal, delivered a 2.3 percent growth in the company’s crude steel production as reported in consolidated Q3 for FY23 and reached 7.03 MT. The earlier quarter witnessed a sale of 6.87 MT the same quarter last year. As reported, this was up primarily because of Indian operations where significant strides had been made.

India Crude steel production, at 3% y/y growth: rose from 6.63 MT in Q3 FY22 to 6.82 MT in the latest quarter. Its Indian operations excluding trial runs maintained healthy capacity utilization levels at 91% in Q3.

Despite the overall growth, JSW Steel reported a temporary dip in production due to maintenance work at one of the blast furnaces at its Dolvi facility in October. The furnace resumed normal operations in early November, allowing the company to recover.

One of the high points of the quarter was progress at the Vijayanagar plant in the company’s portfolio, at which a 5 million tonnes per annum integrated steel project was being implemented through its wholly-owned subsidiary, JSW Vijayanagar Metallics Ltd. After successful commissioning of a 4.5 MTPA blast furnace, raw material handling systems, and a sinter plant earlier in the year, JVML also activated one of the two converters and castors at the Steel Melt Shop during Q3. This ramp-up is expected to contribute toward steel output growth in the company for the next quarter.

The Vijayanagar facility will finally be ramped up to reach 17.5 MTPA capacity levels, thus propelling JSW Steel to attain a total Indian crude steel-making capacity of 34.2 MTPA versus 29.2 MTPA currently. This strategic expansion stands as part and parcel of efforts to consolidate market leadership in the Indian steel landscape.

The group is diversified by USD 24 billion, to which JSW Steel belongs. JSW group is diversified and interested in sectors like energy, infrastructure, cement, and many other industrial sectors.