JSW Steel will make an investment of over Rs 48,000 crore in the next three years as part of its capex plan.
Of the Rs 48,700, Rs 20,000 crore capex is for FY23. JSW Steel is also eyeing to amalgamate JSW Ispat Special Products with it by the end of FY23.
In August 2018, a joint consortium of AION Investments Private-II (AION) and JSW Steel acquired controlling stake in JSW Ispat Special Products. The consortium was the sole bidder for 1.5 million tonne assets in Chhattisgarh.
Apart from this, the five million tpa brownfield expansion at Vijayanagar is progressing well, with civil works underway at the site. The project is expected to be completed by the end of FY24.
The remaining downstream projects at Vasind and Tarapur are expected to be completed in Q2/FY23.