JSW Steel adding capacity with an aim to hit 50 million tonne by 2030, says CEO

Jayant Acharya, Joint MD and CEO of JSW Steel in an interview to CNBC-TV18 highlighted that the company aims to play a pivotal role in meeting the escalating demand for steel in India.

Acharya articulated the company's commitment to reaching 50 million tonne of capacity by 2030, with the immediate focus on commissioning a 5 million tonne facility in Vijay Nagar in the coming months. These efforts align with the broader objective of bolstering India's steel production capabilities, essential for sustaining the momentum of economic development.

Anticipating robust demand for steel in India, Acharya projected double-digit growth numbers for the medium term. In the current year, the company expects a remarkable 14% increase in demand, reflecting a buoyant market. He attributed this optimism to the government's emphasis on infrastructure development, capital expenditure, and the promotion of manufacturing activities.