JSW Steel comes out with a new product for green energy space
Synopsis
JSW Steel is producing 'JSW Magsure', a zinc-magnesium-aluminium alloy coated steel product, to replace imports in India. The product, which had a demand of around 100,000 tonnes in 2023-24, is expected to reach 250,000 tonnes this year due to renewable energy. The company plans to supply 120,000 tonnes of JSW Magsure domestically and export the remaining 25,000 tonnes.
By Nikita Periwal, ET Bureau
Last Updated:
JSW Steel is looking at substituting the country's imports of a coated steel product that finds application in highly corrosive environments in the renewable energy space.
"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, told ET.
The company is looking at supplying 120,000 tonnes of JSW Magsure in the domestic market and export the remaining 25,000 tonnes. It has already supplied 5,000 tonnes of this product to Adani Green Energy this year, and is negotiating for supplies of another 5,000 tonnes over the next three months.
The company is also in discussions with Reliance Industries and NTPC, Kumar said.
While another of its products, JSW Galvalume also caters to the demand for corrosion-resistant steel, Magsure is expected to offer an even higher resistance to corrosion.
The company is manufacturing this special steel product at its facilities in Vijayanagar and Vasind. It has spent ₹500 crore on capital expenditure. It will have the capacity to produce up to 900,000 tonnes of this product each year.
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The country's largest steelmaker has started producing 'JSW Magsure', a zinc-magnesium-aluminium alloy coated steel product that had a demand of around 100,000 tonnes in India 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, told ET.
The company is looking at supplying 120,000 tonnes of JSW Magsure in the domestic market and export the remaining 25,000 tonnes. It has already supplied 5,000 tonnes of this product to Adani Green Energy this year, and is negotiating for supplies of another 5,000 tonnes over the next three months.
The company is also in discussions with Reliance Industries and NTPC, Kumar said.
While another of its products, JSW Galvalume also caters to the demand for corrosion-resistant steel, Magsure is expected to offer an even higher resistance to corrosion.
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The company is manufacturing this special steel product at its facilities in Vijayanagar and Vasind. It has spent ₹500 crore on capital expenditure. It will have the capacity to produce up to 900,000 tonnes of this product each year.
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