JSW Steel to spend $110 million on US facility to support US' green energy push

livemint.com:

JSW Steel, the steelmaking arm of the $24-billion JSW Group, on Tuesday announced plans to upgrade the manufacturing facility of its US-based subsidiary's Baytown, Texas, facility with an investment of $110 million. The company's US-based subsidiary, JSW Steel USA plans to produce high-quality monopile steel plates that are meant to be used in the planned expansion of offshore wind energy generation, which has a target of deploying 30 gigawatts (GW) by 2030.

JSW said in a statement that it plans to introduce sustainable technology and state-of-the-art equipment at its Baytown facility with a view to support the US government's planned offshore wind energy generation target.“The new upgrades at our Plate Mill support the long-term ESG initiative of JSW USA and support decarbonization of the Energy Spectrum in the United States of America. 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.

These investments have the potential to significantly reduce U.S. import reliance in the infrastructure and renewable energy sectors," said Parth Jindal, Director of JSW Steel USA in the statement.The company's US-based subsidiary also plans to enhance its domestic manufacturing capabilities for end-use within the renewable energy and infrastructure sectors, with the proposed investment.