JSW Steel announces the launch of coated steel products, know which alloy it will be made of
Steel manufacturer JSW Steel announced the launch of zinc-magnesium-aluminium alloy coated steel. The company aims to achieve 50 percent market share in this segment within a year. According to Bhasha news, a JSW Group spokesperson said that JSW Steel has invested around Rs 500 crore to set up a coated capacity of nine lakh tonnes per annum at its facilities in Karnataka and Maharashtra. JSW Magsure will be manufactured there.
Target to achieve 50 percent market share
JSW Steel aims to achieve 50 per cent market share in this coated segment within a year of launching Magsure in India, a company spokesperson said. JSW Steel said it is also exploring export opportunities for JSW Magsure in Europe and West Asia. Jayant Acharya, Joint Managing Director and CEO, JSW Steel, said that we are optimizing our coated product mix to meet the country’s requirements for high quality zinc-magnesium-aluminium alloy coated steel, indigenously made in India. .
Support of Self-reliant India Mission
Acharya said that W Magsure will help us take advantage of the emerging opportunities in the Indian market. It will also support the government’s 2030 renewable energy goals and self-reliant India mission. JSW Steel, the flagship company of the US$23 billion JSW Group, is one of India’s leading steelmakers with a capacity of 29.7 MTPA. The company has presence in more than 140 countries. JSW Steel deals in hot rolled, cold rolled, bare and pre-painted galvanized and products like galvalume, TMT rebars, wire rods and special steel. To strengthen its global network, the company has also acquired a pipe and plate manufacturing steel mill in Baytown, Texas, USA. The company aims to produce 40 million tonnes of steel annually.
