JSW Steel Limited is an Indian
multinational steel producer based in
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
and is a flagship company of the
JSW Group
JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and part of the O.P. Jindal Group. The Group's diverse businesses include steel, energy, infrastructure, cement and paints, across India, the Unit ...
.
After the merger of ISPAT Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.
History
JSW Steel's history can be traced back to 1982, when the Jindal Group acquired Piramal Steel Limited, which operated a mini
steel mill
A steel mill or steelworks is an industrial plant for the manufacture of steel. It may be an integrated steel works carrying out all steps of steelmaking from smelting iron ore to rolled product, but may also be a plant where steel semi-finish ...
at
Tarapur in Maharashtra and renamed it as Jindal Iron and Steel Company (JISCO).
Soon after the acquisition the group set up its first steel plant in 1982 at
Vasind, near Mumbai.
Later, in 1994, Jindal Vijayanagar Steel Limited (JVSL) was set up with its plant located at
Toranagallu
Toranagallu, or Torangal, is a village in the southern state of Karnataka, India.Village code= 928100 Toranagal, Bellary, Karnataka It is located in the Sandur taluk of Bellary district in Karnataka.
Demographics
India census, Toranagallu h ...
in the
Bellary
Bellary, officially Ballari, in the eponymous Bellary district, is a city in the state of Karnataka, India.
History
Bellary was a part of Rayalaseema (Ceded Districts) which was part of Madras Presidency till 1 November 1956.
The Ball ...
-
Hospet
Hospet also known as Vijayanagara is the largest city and district headquarters of the Vijayanagara district in the Indian state of Karnataka. It is located on the banks of the Tungabhadra River and is 13 km from Hampi. The present day Ham ...
area in the State of
Karnataka
Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
, the heart of the iron ore belt and spread over of land. It is well connected to both the
Mormugao Port and
Chennai Port
Chennai Port, formerly known as Madras Port, is the second largest container port of India, behind Mumbai's Nhava Sheva. The port is the largest one in the Bay of Bengal. It is the third-oldest port among the 13 major ports of India with offic ...
and is 340 kilometres from
Bangalore
Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...
. It is said to be the sixth largest steel plant in the world.
In the year 2005, JISCO and JVSL merged to form JSW Steel Limited. It also set up a plant at
Salem with an annual capacity of 1 million tonnes.
As of October 2022, the installed manufacturing capacity of the company is 28.5 MTPA.
Merger and acquisitions
In 2007, JSW Steel formed a joint venture for a steel plant in
Georgia
Georgia most commonly refers to:
* Georgia (country), a country in the Caucasus region of Eurasia
* Georgia (U.S. state), a state in the Southeast United States
Georgia may also refer to:
Places
Historical states and entities
* Related to the ...
. Any by 2020, it sold of 39 percent stake which it held in JV to Georgian Steel Group Holdings Limited.
In 2009, Japan's JFE Steel Corp, entered into a strategic partnership with JSW Steel to produce automotive steel products.
In 2010, JSW Steel acquired 3 MTPA Hot Rolling Plant in Dolvi, Maharashtra (formerly
Ispat Industries Limited).
in 2012,
JSW Ispat Steel
JSW Ispat Steel Ltd (JISL) (, ) was set up as Nippon Denro Ispat Limited in May 1984 by founding chairman M. L. Mittal. The company has operations in iron, steel, mining, energy and infrastructure. It is listed on the Bombay Stock Exchange and ...
was merged with JSW Steel, 20 months after the latter acquired a controlling stake in Ispat Industries.
In 2014, it acquired
Welspun Maxsteel Limited in a deal valued at around INR 1,000 Crores.
In 2019, JSW Steel acquired
Bhushan Power & Steel. This resulted in the absorption of an integrated steel facility in
Jharsuguda
Jharsuguda is a city and district headquarters of Jharsuguda district of Odisha, India. It is an industrial hub, consisting mainly of metallurgical industries. It is well connected to major cities of India through the rail network, and a rece ...
, with a capacity of 2.5 million tonnes annually.
In April 2021, the company acquired Plate and Coil Mill Division (PCMD) of
Welspun Corp
Welspun Corp Limited is the second largest manufacturer of large diameter pipes in the world based in Mumbai, Maharashtra. It is a flagship company of the $3 billion (129 billion) Welspun Group. It operates a 1.65 mtpa plant in Anjar, Gujarat ...
for a sum of ₹848.5 cr.
In October 2021, JSW Steel acquired 51% stake in Neotrex Steel from
JSW Group
JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and part of the O.P. Jindal Group. The Group's diverse businesses include steel, energy, infrastructure, cement and paints, across India, the Unit ...
promoters and entered into an under-construction project to manufacture Low Relaxation
Prestressed Concrete
Prestressed concrete is a form of concrete used in construction. It is substantially "prestressed" ( compressed) during production, in a manner that strengthens it against tensile forces which will exist when in service. Post-tensioned concreted i ...
(LRPC).
Mining acquisitions
In the past, JSW Steel has additionally acquired mining assets in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
, the
Republic of Chile
Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the east a ...
, and
Mozambique
Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi ...
.
Carbon footprint
JSW Steel reported Total
CO2e emissions (Direct + Indirect) for the twelve months ending 31 March 2020 at 40,522 Kt (-5,326 /-11.6% y-o-y). There is no evidence of a consistent declining trend as yet.
References
External links
*
* Business data for JSW Steel Ltd
ReutersGoogle FinanceBloombergQuint
{{DEFAULTSORT:Jindal South West Ltd.
Steel companies of India
Manufacturing companies based in Mumbai
JSW Group
Manufacturing companies established in 1982
Indian companies established in 1982
NIFTY 50
Recipients of the Rashtriya Khel Protsahan Puruskar
1982 establishments in Maharashtra
Companies listed on the National Stock Exchange of India
Companies listed on the Bombay Stock Exchange