JSW Steel Ltd. announced on Tuesday that its subsidiary, JSW Steel USA, intends to invest $110 million to upgrade its steel plate mill in Baytown, Texas, with new equipment and sustainable technology.
These investments will enable the company to produce high-quality monopile steel plates, supporting the US administration's initiative to expand offshore wind energy by deploying 30 gigawatts of offshore wind by 2030, enough to power 10 million homes with clean energy.
This expansion will also bolster the growth of the domestic renewable energy sector by enhancing JSW USA's service capabilities for its offshore wind market clientele.
"JSW Steel USA, Inc. plans to invest $110 million in modernising the steel plate mill, incorporating sustainable technology and state-of-the-art equipment at its manufacturing facilities in Baytown, Texas," JSW Steel said in a statement.
Steel products made through this investment will comply with 'Buy America' requirements for specialised grades and sophisticated applications, such as hydrocarbon pipelines, offshore wind towers and platforms, high-density pressure vessels, and monopile steel slabs, JSW Steel stated.
Parth Jindal, Director of JSW Steel USA, said, "The new upgrades at our Plate Mill support JSW USA's long-term environmental, social, and governance initiatives and the decarbonisation of the energy sector in the USA. These investments have the potential to significantly reduce US import reliance in the infrastructure and renewable energy sectors."
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