India Steel Boom on Show as Top Mill Aims to Double Capacity
- JSW plans two new plants of 10 million metric tons, Rao says
- Company may tap bond market more frequently to fund expansion
A JSW Steel manufacturing facility in Maharashtra, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
JSW Steel Ltd. became India’s largest steelmaker this year as production surged. It wants to get bigger still, much bigger.
The Mumbai-based company plans two plants of 10 million metric tons each in the resource-rich states of Odisha and Jharkhand, part of a drive to more than double in size to 40 million tons by 2030, according to Joint Managing Director Seshagiri Rao. To fund growth and lower costs, the steelmaker will tap the bond market more frequently, with larger issues of possibly longer tenures, he said in interview, building on its recent successful overseas debut.