Construction Industry News
JSW Steel has set its sights on capturing 50% of the coated steel market with the introduction of zinc-magnesium-aluminum alloy coated steel. With a hefty investment of Rs 5 billion, JSW has built a capacity of 0.9 million tonnes in Karnataka and Maharashtra. This ambitious move aims to position JSW as a dominant player in the segment within a year.
The launch of alloy steel product JSW Magsure marks a major milestone for the company, making it the only Indian manufacturer in this category. By diversifying its product range, JSW aims to reduce India's dependence on imported coated steel.
Anticipating a surge in demand, especially from the renewable energy sector, JSW Steel is keeping an eye on both domestic and international markets. The Indian zinc-magnesium-aluminium alloy coated steel market has witnessed substantial growth, with forecasts pointing to a doubling of demand in the current fiscal year.
This specialized type of galvanized steel provides enhanced corrosion protection, making it ideal for a variety of applications including solar installations, silos, guardrails and AC components. Jayant Acharya, Joint Director & CEO, JSW Steel, highlighted JSW Magsure's strategic importance in meeting India's growing needs while aligning with national renewable energy and self-reliance goals.
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