JSW Steel plans Rs 20,000-crore capex in FY24 for capacity expansion: Rao

The expansion would take JSW Steel's capacity to around 38 mt

JSW Steel is pegging its capital expenditure (capex) for FY24 at Rs 20,000 crore as it plans to add 9 million tonnes (mt) to its current capacity. The capex is part of the Rs 49,000-crore spend that JSW had outlined over a three-year timeframe.

During the nine months of FY23, the company’s capex stood at Rs 10,707 crore against Rs 15,000 crore planned for FY23.

JSW had earlier envisaged a capex of Rs 20,000 crore for the current financial year.

But falling steel prices and slowing demand prompted JSW to calibrate it to Rs 15,000 crore after Q1.

Seshagiri Rao, joint managing director and