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JSW Steel eyes 40pct volume from specialized steel products—The 20th China(Guangzhou)Int’l Heat Treatment, Industrial Furnace Exhibition
11/15/2018 热处理展-工业炉展-heat treatment expo-furnace expo |
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Money Control reported that Sajjan Jindal led JSW Steel is looking at several financially stressed smaller steel mills as a part of its strategy to have nearly 35-40 percent of specialised products in its product portfolio. The biggest steelmaker in terms of domestic capacity has set a target to take its capacity to 45 million tonne by 2035. Joint managing director Seshagiri Rao told reporters that "We are talking about 35-40 percent of our total production to be in the specialised downstream business. There are several downstream units which are now under severe financial distress. If downstream is the only answer to make profitable then we will have to look at acquiring these assets.”
Mr Rao, however, did not say how much of the volume now comes from specialised products. He said the company''s strategic thinking is to focus on special products that generally have a capacity of about 1 million tonne and will be bidding for such assets which are under the bankruptcy courts now.
The company has already embarked on a INR 45,000-crore capex plan over the four years beginning FY17 to expand capacity from 18 to 25 million tonne, besides expanding downstream units.
Mr Rao said that "We''ve already mentioned about capacity expansion up to 25 million tonne. Now the growth story is from 25 to 45 million tonne. The way forward is brownfield expansion and inorganic growth. After the turnaround of the acquired assets of Monnet Ispat we will look at expanding them. Also we will continue looking at other assets.”
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