JSW Steel USA to Invest $110 Million in Texas Plate Mill Modernization

New Delhi, Jun 25 (PTI) JSW Steel on Tuesday said its subsidiary JSW Steel USA plans to invest USD 110 million to modernise its steel plate mill in Baytown, Texas with new equipment and sustainable technology.

These investments will enable the production of high-quality monopile steel plates to support the US administration's new actions to expand offshore wind energy by deploying 30 gigawatts (GW) of offshore wind by 2030, enough to power 10 million homes with clean energy, the company said.

"JSW Steel USA, Inc plans to invest USD 110 million in steel plate mill modernization projects with sustainable technology and state of the art equipment within its manufacturing facilities in Baytown, Texas," JSW Steel said in a statement.

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 and platforms, high-density pressure vessels and monopile steel slabs, JSW Steel said.

Parth Jindal, Director of JSW Steel USA, said, "The new upgrades at our Plate Mill support the long-term Environmental, social, and governance (ESG) initiative of JSW USA and support decarbonisation of the Energy Spectrum in the USA. These investments have the potential to significantly reduce US import reliance in the infrastructure and renewable energy sectors." PTI ABI