JSW Steel to invest $500 mn in Texas to improve capacity utilisation

At present, the JSW mill's capacity utilisation is less than 30%

Sajjan Jindal-led JSW Steel will invest up to $500 million to improve the capacity utilisation of its plates and pipes mill in Texas, US.

The US arm of the company signed a memorandum of cooperation to develop and augment the steel industry in Texas with Texas’s governor on Monday. As part of the deal, Governor Greg Abbott approved a grant of $3.4 million from the Texas Enterprise Fund for JSW Steel (US).

“The memorandum gives JSW access to natural gas at economical prices and ensures abundant availability of scrap steel in Texas, making conditions conducive for manufacturing through the electric