JSW Steel will invest up to USD 500 million to acquire, upgrade and enhance US-based integrated steel manufacturing unit, Acero Junction Inc in phases.

In a regulatory filing the company stated, “This investment takes JSW’s overall investment blueprint for the US market, to produce American melt and manufactured steel, to up to USD 1 billion.” The proposed investment will be made in two phases.

In phase 1, JSW will revamp and restart the electric arc furnace and the slab caster and modernize the hot strip mill. The proposed investment, including the cost of acquisition will be approx USD 250 million.

Further, in phase 2, the company will evaluate the possibility of adding another electric  arc furnace and additional manufacturing equipment. The proposed investment in phase 2 will be approx USD 250 million, subject to feasibility studies and necessary approvals.

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