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The third phase of JSW Steel's capacity expansion at its Dolvi plant will come at one of the lowest costs for the company's brownfield expansions. JSW Steel plans to invest over 19,000 crore in capacity increase to meet demand for value-added special steel products, according to CEO Jayant Acharya.
"It will be very cost-effective since some of the infrastructure facilities are already there (and) some of the equipment are already there as part of phase two," he said. The investment will increase the company's capital expenditure to around ₹64,000 crore in three years.
The country's largest steel maker said that it will add 5 million tonnes (MT) of capacity to its Dolvi plant in Maharashtra, bringing the total capacity to 15 MTPA by September 2027. Pan-India, the company aims to have a total production capacity of 42 MT by then.
The National Steel Policy 2017 envisages India's steel production capacity at 300 MT by 2030-31. While JSW Steel intends to have a capacity of 50 MT by then, Tata Steel's target is to have a production capacity of 40 MT.
JSW Steel's cost for adding 5 MT of capacity at Dolvi is around $460 per tonne, significantly lower than the global average cost of $700 per tonne. The company plans to fund this capex through internal accruals largely.
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