JSW Steel gets $110M upgrade
June 24, 2024
JSW Steel USA announced Monday plans to invest $110 million in steel plate mill modernization projects with sustainable technology and state of the art equipment within its manufacturing facilities in Baytown.
These investments will enable the production of high-quality monopile steel plates to support the U.S. Administration’s new actions to expand offshore wind energy by deploying 30 gigawatts of offshore wind by 2030. That’s enough to power 10 million homes with clean energy.
Steel products made through this investment are aligned with Buy America requirements for niche grades and sophisticated applications such as hydrocarbon pipelines, offshore wind towers, offshore wind platforms, high-density pressure vessels, monopile steel slabs and platforms for offshore wind towers. These new investments were announced at the 10th SelectUSA Investment Summit hosted by the U.S. Department of Commerce in National Harbour, Maryland.
“The new investments at our Baytown facility reinforce JSW USA’s commitment to a sustainable and green future,” said Parth Jindal, Director of JSW Steel USA, which is a subsidiary of JSW Steel Ltd., India’s leading steel company.
“The new upgrades at our Plate Mill support the long term ESG (environmental, social, and governance) initiative of JSW USA and support decarbonization of the Energy Spectrum in the United States of America. The new investments will enable us to progressively deliver high quality steel products while further defining our niche markets through a Made in America specialty steel portfolio.
“These investments have the potential to significantly reduce U.S. import reliance in the infrastructure and renewable energy sectors.”
Rob Simon, CEO of JSW Steel USA, likes the impact the expansion should have.
“By supplying the critical high-grade steel products for U.S. offshore win deployment, JSW is committed to a cleaner, greener, and better tomorrow. I am proud to announce this investment, as a reflection of the long-lasting relationship between the U.S. and
JSW Steel USA has long championed the Department of Energy’s (DOE) emission reduction priorities and applauds the U.S.Administration’s recent efforts to champion investments that promote industrial decarbonization across the iron & steel industry. Through these proposed investments, JSW USA will enhance its domestic manufacturing capabilities for end-use within the renewable energy & infrastructure sectors. In doing so, JSW USA will expand its “Made In USA” product portfolio by insourcing the production of American-made steel slabs from its production facilities at Mingo Junction, Ohio.
The Ohio plant makes carbon steel slabs from recycled scrap material, which are then shipped to Baytown. The local plant manufactures carbon steel plate and carbon steel pipe. Its products are used in many applications, such as ship building train, heavy guard rails on the freeway, large petrochemical storage tanks and heavy machinery like forklifts and agricultural machinery.
Baytown’s Congressional representative, U.S. Rep. Brian Babin is on the record opposing the expenditure of federal funds on renewable energy, such as solar and wind. But he hailed JSW’s investment.
“I’m thrilled about JSW’s newest investment in Southeast Texas,” he said. “Without a doubt, the Lone Star State is the best place to live, work, and raise a family – and continued investment will ensure future growth and economic opportunities for the entire region. I’m proud to represent JSW and am excited for what is in store.”
Former U.S. Ambassador Atul Keshap is president of the U.S.-India Business Council.
“JSW Steel’s investment and focus on sustainability and next-generation energy production is an impressive example of private sector-led development and critical infrastructure creation,” he said. “The state of Texas’ pro-business environment is a model for growth across the country, and I commend JSW Steel’s commitment to prosperity in both our great nations.”
This portfolio expansion will also support the expanded development of the domestic renewable energy market by increasing JSW USA’s service capacity towards its customers within the offshore wind market. These new projects, which further build upon JSW USA’s recent US$145 million investment in its Mingo Junction facility to upgrade its “clean steel” manufacturing processes, are expected to be completed & commissioned by FY26.
JSW Steel is the flagship business of the diversified JSW Group. One of India’s leading businesses, JSW Group also has interests in energy, infrastructure, defense, cement, realty, paints, ecommerce, sports, green mobility and venture capital.
In December 2023, JSW Steel was ranked eighth among the top 35 world-class steelmakers, according to the “World-Class Steelmaker Rankings” by World Steel Dynamics, based on a variety of factors.