JSW Steel has earmarked ₹20,000 crore as capex for FY25, driven by strong economic momentum and robust steel demand. The company aims to reduce and eventually eliminate its reliance on thermal coal.
The capex allocation covers various projects including the Dolvi phase-III expansion, phase-II of Bhushan Power and Steel (BPSL), and the completion of JSW Vijayanagar Metallics (JVML). Additionally, funds will be used for the development of slurry pipelines in Odisha, with 22 kilometres already completed, and a pellet plant in Odisha, which has received approval. Last fiscal year, JSW Steel spent ₹17,000 crore on capex.
JSW Energy, a group subsidiary, plans to establish 1,600 MW of renewable energy (RE) capacity over the next couple of years. This includes commissioning 400 MW of wind and 200 MW of solar capacity at Vijayanagar, Karnataka, supplementing the existing 225 MW in operation. Another 600 MW of wind capacity will be rolled out in phases, while 130 MW of RE capacity is set to become operational in Dolvi and Salem this year.
JSW Steel anticipates completing the acquisition of Minas de Revuboe (MDR) in Mozambique for $73.75 million within the year. MDR, which owns a coking coal mine in Mozambique’s Moatize Basin, will be developed to support JSW’s Indian operations due to its logistical advantages.
As reported by Projects Today, the company is optimistic about FY25, bolstered by increased production from JVML and the BPSL phase-II expansions. The projects are expected to partially contribute this year, with their full impact projected for FY26.
