JSW Steel Reports Highest-Ever Standalone Crude Steel Production In January

JSW Steel on Monday (13 February) reported highest ever standalone Crude Steel production for the month of January 2023 at 18.91 lakh tonnes, a growth of 15 per cent Year-on-Year (YoY) on standalone basis, according to a company release.

The company's flat rolled product production was 14.24 lakh tonnes, while its long rolled product production was 4.25 lakh tonnes, both with a YoY growth of 14 per cent.

According to the compay statement, the overall capacity utilisation in aggregate was higher at 99 per cent in January 2023 from 96 per cent in December 2022.

JSW Steel is a leading integrated steel company with a capacity of 28.5 MTPA in India and the USA (including capacities under joint control).

In December 2022, Andhra Pradesh State Investment Promotion Board (SIPB), headed by Chief Minister Y S Jagan Mohan Reddy, gave its nod for JSW Steel Limited's proposal to set up a steel plant in Kadapa at a cost of Rs 8,800 crore.

In the first phase, JSW Steel will invest Rs 3,300 crore in the proposed plant and one million tonnes of steel per annum will be produced in the first year.

Later, the plant will be upgraded to two million tonnes per year in the second phase and will eventually reach three million tonne capacity per annum.