JSW Steel proposes investment of upto US$500 mn to upgrade steel manufacturing unit at Ohio, USA

Ohio & Mumbai – June 22, 2018: JSW Steel, India’s leading steel company, has proposed an investment of upto US$ 500 million in acquiring, enhancing & upgrading Acero Junction Inc, an integrated steel manufacturing unit with a potential capacity of 3 MTPA, located at Ohio USA, in phases.  This takes JSW’s overall investment blueprint for the US market, to produce American melt and manufactured steel, to up to US$ 1 billion. The proposed investment will be made in two phases at its Ohio steel manufacturing facility.

The integrated steel manufacturing unit in Ohio, with a potential capacity of 3 MTPA, was acquired as part of the recently concluded Acero Junction Holdings Inc. deal. A certificate evidencing the proposed investments by JSW Steel was signed by Hon’ble Wilbur Ross, Secretary, US Dept of Commerce and Mr Jayant Acharya, Board Member and Director (Commercial & Marketing), JSW Steel Ltd at SelectUSA Investment Summit held at the National Harbor, Maryland, outside Washington, D.C.

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