FCC

JSW Steel Aims to Replace Imports with New Coated Steel Product

2024-06-03

JSW Steel, India's largest steelmaker, is set to replace the country's imports of a vital coated steel product with its newly developed JSW Magsure. This zinc-magnesium-aluminium alloy coated steel, crucial for highly corrosive environments in the renewable energy sector, saw a demand of 100,000 tonnes in 2023-24.

"Demand for this product is expected to go up to 250,000 tonnes this year, driven by renewable energy, and we are targeting a production of 145,000 tonnes," Ashwani Sharma, Executive President for JSW Steel Coated Business said.

JSW Steel plans to supply 120,000 tonnes of JSW Magsure domestically and export 25,000 tonnes. Already, 5,000 tonnes have been supplied to Adani Green Energy, with negotiations for an additional 5,000 tonnes over the next three months.

The company is also in discussions with Reliance Industries and NTPC, according to Sharma. While another product, JSW Galvalume, meets the demand for corrosion-resistant steel, JSW Magsure offers even higher corrosion resistance.

Manufactured at JSW Steel's facilities in Vijayanagar and Vasind, the company has invested 5 billion rupees in capital expenditure and will have the capacity to produce up to 900,000 tonnes annually.