Last week, financial institutions and the creditors of Bushan Power Steel Co., Ltd. approved the acquisition of JSW, requiring the latter to deposit approximately US$2.65 billion in an escrow account and complete the acquisition of pressure-bearing steel production assets by March this year.
The acquisition of BSPL will increase JSW’s current steel production capacity by 3 million tons per year. JSW is also about to complete a project to double the capacity of its Dolvi steel plant to 10 million tons per year. JSW acquired the pressurized steelmaking assets of Monéesparte Industries, which increased its production capacity by 1 million tons per year.
The increase in organic and inorganic steel production capacity is expected to bring JSW’s domestic steel production capacity in India to 27 million tons per year, making it the largest domestic steel producer in India by the end of the current fiscal year, and changing the installed capacity of domestic steel companies in India Overall ranking .
According to the current ranking, Tata Steel has an installed capacity of 20 million metric tons per year, making it the largest steel producer in India, followed by the Iron and Steel Authority of India Limited (SAIL) with 19.63 million metric tons. Second place, JSW ranks third, with a current production capacity of 18 million metric tons.
It is worth noting that Tata Steel has an annual overseas production capacity of 13 million tons, and its global production capacity totals 33 million tons.
In the long run, the dominant position of the Indian market will change again. Tata Steel has formulated a strategic plan for the company to increase its steelmaking capacity to 40 million tons through organic and inorganic steel expansion projects, and JSW Steel will increase its production capacity to 5,000 per year. Million tons.
Post time: Mar-09-2021
