JSW Steel USA, a subsidiary of JSW Steel Ltd, announced on Wednesday that it will invest $145 million in upgrading its manufacturing operations in Mingo Junction, Ohio. The company aims to produce high-quality steel products in the US for its customers in the infrastructure and renewable energy sectors. The investments will help JSW Steel USA improve its domestic slab production capabilities, mitigate import-related risks, and create employment opportunities in the US.
Parth Jindal, Director of JSW Steel USA, said that these investments and projects demonstrate the company’s commitment to a sustainable and green future. The operational upgrades being made in the US are a progressive step towards achieving the company’s long-term Environmental, Social, and Governance (ESG) goals.
The planned investments include the installation of one of the world’s largest Vacuum Tank Degassers (VTD), upgrades to supporting facilities, and manufacturing infrastructure. The VTD will help reduce carbon emissions and hydrogen content in steel products through electrification of metallurgical processes. The upgrades will expand the company’s “Made in USA” product portfolio and replace steel imports.
JSW Steel USA expects to complete and commission the projects by FY26 and continues to support the Department of Energy’s (DOE) emission reduction priorities and recent legislation such as the Inflation Reduction Act. The company’s CFO, Samir Kalra, added that these investments will boost profitability and help JSW Steel USA meet the demand for quality steel products that are melted and manufactured in the US.
The investments are in line with President Joe Biden’s administration’s Buy America policies, according to the company. JSW Steel USA Ohio Inc, an offshore arm of homegrown JSW Steel, aims to meet the demand for quality steel products that are melted and manufactured in the US.
Conclusion
JSW Steel USA’s investment of $145 million in upgrading its manufacturing operations in Mingo Junction, Ohio is a significant step towards achieving the company’s long-term ESG goals. The planned investments will improve domestic slab production capabilities, mitigate import-related risks, and create employment opportunities in the US. The installation of one of the world’s largest Vacuum Tank Degassers will help reduce carbon emissions and hydrogen content in steel products. The company’s commitment to a sustainable and green future and support for the Department of Energy’s emission reduction priorities and recent legislation such as the Inflation Reduction Act are commendable.
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