JSW Steel May Spend $2.5 Billion Amid Indian Infrastructure Push

JSW Steel Ltd., India’s biggest steelmaker by capacity, plans to spend as much as 240 billion rupees ($2.5 billion) in the coming year as the nation’s infrastructure push drives demand for steel and mill expansions.

That’s up to a roughly 50% increase compared with capital expenditure for the year through March 2026, according to an earnings statement on Thursday. The Mumbai-based company plans to expand steel capacity to 48.8 million tons a year by 2030, from 31.9 million tons now.