JSW Steel Reports Strong Growth in July 2024: 9% Rise in Crude Steel Production

JSW Steel, India’s leading integrated steel company, announced a consolidated Crude Steel production of 22.15 lakh tonnes for the month of July 2024. This represents a 9% year-over-year increase. Capacity utilisation at Indian operations reached a robust 91% during the month.

Over the past 3 decades, JSW Steel has expanded from a single manufacturing unit to a global steelmaking powerhouse with a capacity of 35.7 million tonnes per annum (MTPA) in India and the USA, including 6 MTPA under commissioning in India. The company’s strategic growth plans will elevate its total capacity to 43.5 MTPA by September 2027. Its plant in Vijayanagar, Karnataka, remains the largest single-location steel-producing facility in India, with a current capacity of 17.5 MTPA (including 5 MTPA under commissioning).

JSW Steel has always been at the forefront of research and innovation. Its strategic collaboration with JFE Steel of Japan provides access to cutting-edge technologies, enabling the production of high-value special steel products for diverse industries and applications, including construction, infrastructure, automotive, electrical applications, and appliances.

Aligned with its commitment to sustainability, JSW Steel aims to reduce its CO2 emissions from steel-making operations by 42% by 2030 and achieve net-zero carbon emissions for all operations under its direct control by 2050. The company is leading the energy transition by transitioning its steel-making operations to renewable energy sources by 2030. Other sustainability targets include biodiversity preservation, air quality improvement, water conservation, and maintaining Zero Liquid Discharge.

JSW Steel has established a strong work culture and has been recognised for its excellence. It has been certified by Great Places to Work (2021, 2022, and 2023), ranked among the Best Employers among Nation Builders (2023 and 2024), and recognised as one of India’s best workplaces in Health & Wellness (2023).

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.