JSW Steel USA to invest $110 mn to expand RE biz

Mumbai: JSW Steel USA, a subsidiary of India’s leading steel company, on Tuesday said it plans to invest $110 million in steel projects in the state of Texas.

The company said this investment will enable the production of high-quality monopile steel plates to support the Joe Biden 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.

JSW Steel USA is part of the $24 billion JSW Group, with over 800 employees.

“The new investments will enable us to progressively deliver high-quality steel products while further defining our niche markets through a ‘Made in America’ speciality steel portfolio,” said Parth Jindal, Director of JSW Steel USA.

“These investments have the potential to significantly reduce US import reliance in the infrastructure and renewable energy sectors,” he added.