 "JSW Steel to invest $145 mn to upgrade manufacturing operations in US")
JSW Steel USA Ohio Inc, a subsidiary of India’s JSW Steel, will invest $145 million in projects to upgrade manufacturing operations in Mingo Junction, Ohio.
The company said in a statement it aims to meet the demand for quality steel products “melted & manufactured in the US”, in line with the Biden Administration’s Buy America policies. The new projects are expected to be completed and commissioned in FY26.
The investment was announced at the SelectUSA Investment Summit held in National Harbour, Maryland. “These new investments reiterate JSW’s commitment to a sustainable and green future. The operational upgrades being made at JSW Steel USA are a progressive step towards achieving our long term ESG goals. These investments and projects will help us in producing high quality ‘melted and manufactured in USA’ steel products required by our customers in the infrastructure and renewable energy sectors,” said Parth Jindal, director of JSW Steel USA.
The company said that the new investment would help expand its “Made in USA” product portfolio and improve imports.
Ohio Governor Mike DeWine said, “Choosing Ohio for this expansion brings good-paying jobs to Jefferson County while helping secure a stronger domestic supply chain for steel manufactured in the United States.”
“This capital expenditure ensures not only job retention and creation but adds an element of economic sustainability to JSW Steel USA Ohio, Inc.’s footprint in Jefferson County,” said Robert Naylor, executive director of the Jefferson County Port Authority.