JSW Steel, India’s leading steel company, proposed an investment of up to $500 million to enhance and upgrade Acero Junction Inc., an integrated steel manufacturing unit with a potential capacity of 3 million tons per year. The proposed investment will be made in two phases at the Ohio steel manufacturing facility. In Phase 1, JSW will revamp and restart the electric-arc furnace and the slab caster and modernize the hot-strip mill.
In Phase 2, depending on economic viability and prevailing market conditions, JSW will evaluate the possibility of adding another electric-arc furnace and additional manufacturing equipment at the hot-strip mill. JSW acquired Acero Junction Holdings in March 2018.