JSW Steel on Tuesday posted consolidated crude steel production for the second quarter of FY24 at 6.41 Million tonnes, up 13 per cent on-year. QoQ production, however, is marginally lower by 3 per cent, primarily due to scheduled shutdowns undertaken at Indian operations and lower capacity utilisation at USA-Ohio due to market conditions, the company said in a regulatory filing.
It said that the crude steel production from India operations for Q2FY24 was at 6.27 Million tonnes, up 12 per cent as compared to the same period last year. Meanwhile, USA – Ohio operations posted total production at 0.14 Million tonnes.
Furthermore, JSW Steel added that consolidated crude steel production for H1FY24 was at 12.76 Million tonnes, posting a growth of 12 per cent on-year.
JSW Steel is the flagship business of the diversified JSW Group. Over the last three decades, JSW Steel has grown from a single manufacturing unit to an integrated steel company with a capacity of 29.7 MTPA in India and the USA. Its next phase of growth in India will take its total capacity to 38.5 MTPA by FY25, the company said. The Company’s manufacturing unit in Vijayanagar, Karnataka has a current capacity of 12.5 MTPA.
JSW Steel’s CO2 emission reduction goals are aligned with India’s Climate Change commitments under the Paris Accord. The company aims to reduce its CO2 emissions by 42 per cent from its steel-making operations and achieve net zero CO2 emissions at its subsidiary, JSW Steel Coated Products Ltd by 2030. JSW Steel aims to lead the energy transition by powering steel-making operations entirely by renewable energy by 2030.