In front of a Houston stadium filled with over 50,000 Indian-Americans assembled for the much-awaited #howdymodi event, US President Donald Trump recognized JSW as an industry leader for its efforts in revitalizing a shuttered steel plant in the state of Ohio. He stated that JSW Steel’s investment is the perfect example of strong business ties between India and the USA.
The acknowledgment by Mr. Donald Trump was in the presence of Honourable Prime Minister Narendra Modi, a few US Senators and Indian Diplomats who showed their appreciation for JSW Steel’s initiatives in the US with a rousing round of applause.
Reacting to the mention, by Mr. Donald Trump, our Group Chairman and Managing Director, Mr. Sajjan Jindal said he was humbled by the mention and his team will continue with their deep commitment towards growth in the United States.
We are pleased to share our intention for additional investments in the US. It's our intention to further augment our capacity in Acero Junction over the next few years and to take the combined capacity of JSW USA to 4 mt per annum--3 mt at Acero and 1 mt at Baytown in Texas.
Mr Parth Jindal, JSW Steel (USA)
- Phase 1: In this phase, JSW will revamp & restart the electric arc furnace and the slab caster, and modernize the hot strip mill. The proposed investment including the cost of acquisition is expected to be approximately US$250 million.
- Phase 2: The proposed investment in Phase 2 could be in the range of up to US$250 million, subject to feasibility studies & necessary approvals.