 "JSW Group to invest $70 billion in 6 years; plans to expand capacity")
The JSW Group, which had in 2023 announced an investment of $65 billion by 2030, has revised its investment target to $70 billion while retaining the same timeline.
The new investment figure includes $5 billion investment in electric vehicle projects in Odisha announced in February this year.
The Odisha investment consists of a 50 GWH EV battery plant, EVs, lithium refinery, copper smelter and related component manufacturing units. Besides, the group will also expand its capacity in its steel, cement and electricity generation verticals.
The group flagship, JSW Steel had said that it would be investing close to Rs 65,000 crore in the next three years. This includes the new capex announced for Dolvi project in Maharashtra.
With this, JSW Steel will be focusing on brownfield expansion for expansion and Dolvi will take its total capacity to 43.5 mt steel and make JSW among the top five steel producers in the world.
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