MUMBAI, India JSW Steel Ltd. will commission its 2.3-million-tonne-per-year automotive grade steel plant in March.
Located at JSW Steels 10-million-tonne-per-year integrated steel plant in Vijayanagar, India, the plant will produce outer-body panels for passenger cars.
"Currently, the Indian automobile industry is importing 3 million tonnes of auto grade steel," a JSW Steel source told AMM sister publication Steel First Dec. 31. "This can be reduced after the plant is commissioned (and) will save auto companies millions of dollars in import duty and foreign exchange."
The company has invested $730 million in the plant, which will supply automotive grade steel to such clients as Toyota Motor Corp., Hyundai Motor Co., Honda Motor Co. Inc., Tata Motors Ltd., Maruti Suzuki India Ltd. and Bajaj Auto Ltd.
With this latest expansion, capacity at the Vijayanagar plant will increase to 12.3 million tonnes per year.
Mumbai, India-based JSW Steel, Indias largest steel producer, has plants in six locations in India; a plate and pipe mill in the United States; and mining assets in Chile, the United States and Mozambique, according to its website.
A version of this article was first published by AMM sister publication Steel First.