Indian steel manufacturer JSW Steel, a unit of steel to cement company JSW Group, aims to invest over 5,000 crore rupees ($696 million) to reinforce its downstream manufacturing capacity.
The investment will enable JSW Steel to re-assemble its product mix and focus on high-value special steel products and customization.
As part of its effort to ramp up downstream capabilities, JSW Steel will also pursue stressed downstream steel assets that will come up for bidding in the next round.
JSW Steel’s investment in downstream capabilities is aimed at capitalizing the incremental demand expected to be generated across sectors for specialized steel. The company expects special steel products to contribute 40 percent of its future volumes.