Page 6 - Jsw Group

JSW Green Mobility gets 636 acre land for Maharashtra manufacturing plant

Vehicle manufacturer JSW Green Mobility has been allotted 636 acres of land in the Bidkin node of AURIC city and the plant will go into production in the next 12 to 18 months, an official said. After allotting 827 acres of land to Toyota Kirloskar Motors Private Limited, the administration has issued land to another vehicle production company in the Bidkin node of AURIC (Aurangabad Industrial City). The administration has issued 636 acres of land to JSW Green Mobility company in the Bikdin node. The land allotment certificate was issued online by the Maharashtra Industrial Township Limited (MITL) on Thursday, an official said. The company will establish an electric car manufacturing unit on 546 acres of the allotted land. Apart from this, the company will also produce commercial vehicles in the area of 90 acres. The company will invest Rs 27,200 crore here, which will create 5,000 direct and 15,000 indirect jobs, a release said on Thursday. The company will commence its work soon a

JSW Ventures picks up stake worth $1.8 mn in drone tech firm Aereo

JSW Ventures, an arm of diversified conglomerate JSW Group, on Monday said it has picked up a stake in drone technology entity Aereo for USD 1.8 million. Aereo uses drone technology and AI-driven data analytics to help clients in asset management in sectors including mining and infrastructure, a statement by JSW Ventures said. The company raised the funds as part of Series B funding round. Aereo, which is delivering operating profits, will be utilising the funds for strengthening its offerings and also expanding into international markets, it said. The company has helped the government map over 45,000 villages over the last three years and cover more than 50,000 square kilometer for the Digital India Land Record Modernization Program (DILRMP), the statement said. Aereo Co-founder and chief executive Vipul Singh said JSW's trust and support is a strong testament to its approach, and its mission to transform asset management through drone technology. JSW Ventures' managing partner .

JSW MG Motor India unveils India's first high-voltage second-life battery

By repurposing used EV batteries, the company aims to extend their lifecycle, reducing waste and supporting the growth of an eco-friendly EV ecosystem in India

'JSW group not withdrawing Rs 40,000 crore EV project from Odisha'

The JSW group is not "withdrawing" its proposed Rs 40,000 crore electric vehicle (EV) and battery project from Odisha, a senior company official said on Tuesday. The company's announcement comes after a section of media reported that the JSW group plans to shift its EV and battery project from the eastern state to Maharashtra. Asked about media reports, Ranjan Nayak, executive vice president of corporate strategy, office of chairman and managing director said, "We are not withdrawing the EV and battery project from Odisha". The JSW group had on February 10, 2024, signed a memorandum of understanding with the Odisha government for establishment of an integrated electric vehicle and EV battery manufacturing project at an investment of Rs 40,000 crore in the state. At Naraj in Cuttack district, the JSW group had planned to set up an EV vehicle and component manufacturing plant, while at Paradip in Jagatsinghpur district, it proposed to establish a copper smelter and lithium ...

JSW group moves Rs 40,000 crore EV initiative to Maharashtra from Odisha

The JSW Group is relocating its Rs 40,000 crore EV and battery project from Odisha to Maharashtra, seven months after finalising an agreement with the state government

JSW Energy arm commissions 300 MW wind power plant at Tuticorin in TN

JSW Energy on Sunday announced that its step-down subsidiary, JSW Renew Energy Two Ltd, has successfully commissioned a 300 MW wind power plant at Tuticorin in Tamil Nadu. The ISTS-connected (Inter-state transmission system) wind power project was awarded by Solar Energy Corporation of India (SECI) in tranche X, a company statement said. This marks the first-ever greenfield wind power plant commissioned by the company for the SECI, it noted. The newly commissioned wind power project will contribute significantly to the renewable energy portfolio, supporting the vision of a greener and sustainable future, the company said. The additional 150 MW of wind capacity awarded under SECI Tranche X located at Dharapuram, Tamil Nadu, is also nearing completion with 138 MW already commissioned, it informed. Subsequent to this, total current installed capacity stands at 7,726 MW while the under- construction capacity stands at 2,114 MW, that is expected to be commissioned by the end of FY ...

JSW Neo Energy bags 600 MW wind-solar hybrid project from MSEDCL

JSW Energy on Tuesday said that its arm JSW Neo Energy has bagged a 600 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL). Subsequent to this, the company's total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in hybrid capacity of 3.8 GW (including FDRE), a company statement said. According to the statement, JSW Neo Energy, a wholly owned subsidiary of JSW Energy (company), has received Letter of Award (LoA) for 600 MW of wind-solar hybrid power project including 400 MW allotted under greenshoe option from MSEDCL against MSEDCL Phase IV. The company, however, did not disclose any financial details. The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. This project enhances the company's energy solution offerings and supports its transition towards becoming an energy products and services company. JSW Energy has total locked-in generation cap

JSW Neo Energy bags 200 MW wind-solar hybrid project from from MSEDCL

JSW Energy on Tuesday said its arm JSW Neo Energy has received a letter of award (LoA) for setting up a wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL). The 200 MW wind-solar hybrid power project was awarded to JSW Neo Energy in a tariff-based competitive bid, a JSW Energy statement said. As a result of this capacity award, the company's total locked-in generation capacity has increased to 17.2 GW, which includes a total locked-in hybrid capacity of 2.9 GW (including FDRE), the statement said. JSW Energy has a total locked-in generation capacity of 17.2 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and RE pipeline of 7.3 GW (PPAs signed for 2.3 GW). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage ...

Paris Olympics: What car did Sajjan Jindal promise to Indian medallists?

Paris Olympics 2024: Sajjan Jindal's announcement came shortly after Morris Garages India revealed their new CUV, the MG Windsor, in collaboration with JSW Group

JSW Infrastructure Q1 results: Net profit fall 9% on higher expenses

Its consolidated net profit fell to Rs 292 crore (about $35 million) in the quarter ended June 30 from Rs 321 crore in the year-ago period

JSW MG to launch 5 cars in next 12 months: CEO Emeritus Rajeev Chaba

MG currently sells five models in India -- Hector, Gloster, Astor, Comet and ZS. The first three are internal combustion engine-run cars while the last two are electric cars

Market concentration increased across India's key industries in FY24

The numbers indicate a steady rise in the revenue share of top two firms across industries in the last ten years leading to a rise in HHI scores

JSW Energy plans Rs 15,000 crore capex in FY25, says Sajjan Jindal

JSW Energy Chairman & Managing Director Sajjan Jindal on Friday said the company has planned a capital expenditure of Rs 15,000 crore during the current fiscal year. In his address to shareholders at the annual general meeting, he said, the company intends to spend around Rs 1,15,000 crore to reach the goal of 20 GW generation and 40 GWh storage under 'Strategy 2.0'. He further said the company's plan is to spend approximately Rs 15,000 crore in current fiscal year and it is also actively scouting for acquisition opportunities in the power sector. The company is on track to commission ongoing projects for power generation, battery storage and green hydrogen production, it said. The growth capital secured through the recently completed QIP (qualified institutional placement) strategically positions the company to accelerate the execution of returns accretive growth plans, he noted. In April 2024, JSW Energy had raised Rs 5,000 crore of equity through a QIP issue to build a war ...

JSW Group to invest $70 billion in 6 years; plans to expand capacity

The Odisha investment consists of a 50 GWh EV battery plant, EVs, a lithium refinery, a copper smelter, and related component manufacturing units

Difficult to gauge public mood in vast country like India: JSW chairman

Billionaire Sanjay Jindal on Tuesday said it is "very difficult" to gauge public mood in a vast country like India. "Very difficult to gauge the mood of public in a vast country like ours. This is amply clear from today's numbers!" the chairman of the JSW Group wrote on social media platform X. "What we are witnessing today is something nobody expected and showcases how a democracy of our size functions," he added. Industrialists seemed to be a bit more circumspect while commenting on the election results which showed the ruling BJP falling short of a clear majority and depend on partners' support to form the new government. Harsh Goenka, chairman of RPG Enterprises, while referring to the election results pointed out that the illegal betting market had predicted the outcome better than the more sophisticated exit polls. "Satta bazaar far more accurate than pollsters using data analytics, AI, scientific research. Moral: believe in people who put their money behind their prediction

JSW Paints breaks even at operating level in FY24, revenue crosses Rs 2k cr

The company attributed the rise in gross revenues to a significant ramp-up in both decorative paints and industrial coatings businesses

JSW Paint turns profitable; aims for Rs 5,000 crore sales in two years

JSW Paints crossed Rs 2,000 crore in revenue from operation in FY24 and logged its first operating profit in five years of inception, a top company official said on Thursday. The JSW Group firm, which aims for Rs 5,000 crore revenue in the next two years, is expanding its retail presence in the home decorative business and adding more products in the industrial coating business, company's Joint Managing Director & CEO Sundaresan AS said. "We have been able to achieve operating breakeven this year (FY24)," Sundaresan told PTI. JSW Paints, which is among the new entrants in the fast-growing Indian paints industry, is aiming "to grow much faster than the market". "We aim to keep growing anywhere from 5 to 10 times the market growth. In the current year (FY24), We have grown 10 times the rest of the industry," he said adding that JSW Paints is bringing new products into the market, expanding its reach and network and continuing to invest in building the brands. Asked about JSW Paints'

JSW Cement to invest Rs 3K cr to set up manufacturing unit in Rajasthan

JSW Cement on Tuesday said it plans to invest around Rs 3,000 crore to set up a cement manufacturing facility in Nagaur district of Rajasthan. The greenfield, integrated facility will be funded by a mix of debt and equity, the company said. The investment in the new facility includes a clinkerization unit of up to 3.30 MTPA (million tonnes per annum) and a grinding unit of up to 2.50 MTPA, said a statement from JSW Cement, a part of USD 24.25-billion JSW Group. The new plant will also have an 18 MW waste heat recovery-based power generation system, it added. "The proposed investment will be funded through a mix of equity and long-term debt," it said. This new plant is also expected to create more than 1,000 direct and indirect job opportunities, JSW Cement said. The investment also includes around 7-km overland belt conveyor to transport limestone from mines to the manufacturing plant and arrangements to use alternative fuel in the kiln. JSW Cement Managing Director Parth Jindal

JSW Infrastructure to enter Adani bastion for piece of commercial cargo

Firm to bid for mega projects like Rs 77,000 crore Vadhavan Port, Rs 44,000 crore Nicobar Port

JSW Infra Q4FY24 results: Net profit rises 9.8% to Rs 330 crore

The company's revenue from operations rose by 19.8 per cent to Rs 1,096 crore on a year-on-year basis. Sequentially, the core revenue was up by 16.6 per cent