JSW Steel Ltd. plans to expand the production capacity of its Vijayanagar plant in India's Karnataka to 18 million tonnes per year, Press Trust of India reported Sept. 3.
The facility has a current capacity of 12 Mt/y, and the company in June revealed plans to invest 75 billion Indian rupees to boost capacity to 13 Mt/y by March 2020.
"Hopefully, in the next two years we will start the work there," Chairman and Managing Director Sajjan Jindal said, noting that he does not know how much the expansion would cost.
Deputy Managing Director Vinod Nowal said the expansion timeline "totally depends upon the acquisitions."
Nowal added that the company plans to expand its Dolvi unit in Maharashtra to 10 million tonnes from 5 million tonnes by March 2020, with work already in progress.
He said the company will be investing about 430 billion rupees on these expansions over the next three years, besides downstream facilities.
As of Aug. 31, US$1 was equivalent to 70.88 Indian rupees.