JSW Steel commissions first phase of Cold Rolling Mill-2 in Karnataka

JSW Steel has commissioned the first phase of 2.3 million tonne per annum (MTPA) Cold Rolling Mill-2 at Toranagallu in Karnataka’s Bellary district. In this regard, the company has invested Rs 4,500 crore to set up the plant in technical collaboration with Japan’s JFE Steel. The CRM-1 is already operational since 8 years and manufactures special steel for under body parts in passenger cars. By commissioning of the Cold Rolling Mill, the company is targeting to capture a sizeable portion of auto-grade steel market in India. At present, Indian automobile industry imports about 1 million tonnes of high-end steel with a strength level of 980 MPA (Megapascal) annually to manufacture premium passenger cars and sports utility vehicles (SUVs). Further, the company is planning to capture a sizeable portion of this market, which is estimated to grow at 0-15% in the coming years. JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.