JSW Steel, a leading player in the steel manufacturing domain, has taken a significant stride towards sustainability by establishing a new wholly-owned subsidiary, JSW Green Steel Ltd, in Mumbai on February 27, 2024. This move highlights the company's dedication to environmentally conscious practices, with a specific focus on producing hot-rolled and cold-rolled steel products.
Hot-rolled steel finds applications in sectors such as automobile and agriculture, while cold-rolled steel is utilized in manufacturing, construction, and home appliances, among others.
JSW Steel, an integrated steel company with a capacity of 28.5 million tpa in India and the USA, is set to expand its total capacity to 38.5 mtpa by FY25. JSW Green Steel Ltd has now become its wholly-owned subsidiary, as announced by the company. This strategic move aims to further strengthen JSW Steel's presence and offerings in the steel industry.
Additionaly, the announcement of this new subsidiary has already sparked interest in the stock market. JSW Steel's shares experienced a minor decline, closing 2.49% lower at Rs 798.20 (approximately USD 10.52) on the day following the announcement. This market reaction underscores the intense scrutiny from investors regarding the company's strategic decisions. However, amidst the growing global emphasis on sustainability, JSW Green Steel Ltd is poised for growth, offering innovative solutions that meet both market and regulatory environmental standards.
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