Steel companies likely to add 29 million tonnes capacity in five years

With a better financial health, leading companies are now better placed to undertake expansion projects than they were in the past several years

Steel companies are looking to restart expansion projects on the back of surging steel prices. In the next five years, about 29 million tonnes capacity is likely to be added, with most of it expected by FY2024.

JSW Steel is looking to add 14.8 million tonnes across Dolvi (Maharashtra), Vijaynagar (Karnataka) and at Bhushan Power & Steel facility in Jharsuguda (Odisha). Tata Steel has restarted its five million tonne expansion project at Kalinganagar (Odisha). Jindal Steel & Power (JSPL) is looking to add 6 million tonnes at Angul (Odisha).

Additionally, NMDC's Nagarnar Steel Plant, is expected to commission its three