JSW Steel (USA) Inc is a subsidiary of JSW Steel Ltd.
Texas Governor Greg Abbott, who is leading a high-level delegation to India, on Monday visited the JSW Group Headquarters in Mumbai and signed a Memorandum of Cooperation to develop and augment the steel industry in Texas.
According to an official release posted on the governor’s website, the US leg of JSW Steel will invest $500 million in different phases to develop its steel manufacturing infrastructure in Baytown, Texas.
It said the infrastructure will be built by the company for expanding their Plate & Pipe Mill unit. The governor, in return, has offered JSW Steel (USA) Inc. A Texas Enterprise Fund of $3.4 million.
“JSW’s motto is ‘Better Everyday,’ and that’s the same approach we take in Texas,” said Abbott. “The $500 million investment from JSW Steel to expand its operations in Texas shows what we can achieve when we work to be better every single day. Made in Texas is a powerful label, and I thank JSW for investing in our great state. We look forward to forging an even stronger partnership and continuing economic and job growth in the Lone Star State.”
“The Memorandum signed by Greg Abbott and JSW USA is part of our long term strategy to enhance our U.S. footprint,” said Parth Jindal of JSW Group. “It reiterates our commitment to stay invested and grow in the U.S. market. It also provides JSW USA an opportunity to participate in USA’s infrastructure development and job creation priorities. Access to natural gas at extremely economical prices and the abundant availability of scrap steel in Texas make conditions very conducive for manufacturing through the Electric Arc Furnace route. JSW Steel (USA) Inc. wishes to create a world class fully integrated steel complex that will bring precision manufacturing of high quality steel plate and pipe to Texas, USA.”
JSW USA operates one of the widest steel plate & pipe mills in North America. Strategically located in Baytown, Texas, the unit services the needs of the energy, petrochemicals, defense and other heavy equipment industries in USA who need high quality carbon plate.
JSW Steel is a part of the diversified $12 billion JSW Group, which has a presence in Steel, Energy, Infrastructure, Cement, Ventures and Sports. JSW Steel is one of the top integrated steel companies in India with an installed steel-making capacity of 18 MTPA.
JSW Steel’s plant at Vijayanagar in Karnataka, is the largest single location steel producing facility in the country with a capacity of 12 MTPA.
JSW Steel (USA) Inc is a subsidiary of JSW Steel Ltd.
Over the week long visit to India Abbott will visit the cities of Mumbai, Bengaluru, Agra and New Delhi and meet with CEOs, company executives and officials from the Indian government during the mission from March 22-30.
The focus of the mission is to expand the state’s business ties with India. Texas is one of the leading states in exports to India. While it exports oil, petrochemicals, civilian aircraft engines and other goods valued at nearly $3.8 billion to India, the state imports several goods including foodstuffs, crustaceans, and jewelry from India.