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JSW Steel Projects and Capex update-The 19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
5/18/2018 壓鑄展-鑄造展- Die-casting expo-foundry expo |
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All the key projects which commenced last year, like augmenting crude steel capacity at Dolvi works to 10 MTPA, revamp and capacity up-gradation of BF-3 at Vijayanagar works, capacity expansion of CRM-1 complex at Vijayanagar works and modernization-cum-capacity enhancement at downstream facilities of JSW Steel Coated Products are progressing satisfactorily and are likely to complete as per schedule.
New Projects approved by the Board: With a strategic objective of augmenting the incremental capacity creation at a low specific investment cost so that they remain returns accretive, the Board of Directors of the Company has approved certain key new projects in addition to the existing capex pipeline to achieve the following: expand overall steelmaking capacity from 18 MTPA to 24.7 MTPA by March 2020 enrich the product mix with 3.2 MTPA additional downstream capacity backward integration projects to achieve cost reduction
The major new projects so approved are:
(a) Upstream Projects - Augmenting crude steel capacity at Vijayanagar & Dolvi
i) The Company, in the last year, had announced a plan to revamp and up-grade capacity of Blast Furnace-3 at Vijayanagar, post which the higher cost BF-2 would have been ramped down keeping overall capacity at Vijayanagar at 12 MTPA. Considering the prospects of strong steel demand outlook, the Company now plans to modify and enhance the capacities of Steel Making Shop and capacities of flat and long products mills with allied facilities to utilize the additional hot metal. This project is expected to be commissioned by March 2020 at an estimated cost of about ?2,300 crores. With this, the crude steel capacity at Vijayanagar would increase to 13 MTPA.
ii) The expansion project at Dolvi to 10 MTPA is currently under implementation. In order to effectively utilise the steel making and casting capacity, the Company has decided to increase DRI capacity at Salav to 1.6 MTPA (from existing 0.9 MTPA)
along with augmentation and modification of Steel Melting Shop at Dolvi for hot charging of DRI. This project is expected to be commissioned by March 2020 at an estimated cost of ?1,375 crores. With this, the crude steel capacity at Dolvi would increase to 10.7 MTPA. Post completion of both these projects, the Company''s overall crude steel making capacity will increase from 18 MTPA to 24.7 MTPA by March 2020.
b) Enriching Product Mix- The Company remains strategically focused on enriching its product mix by increasing the volume and share of value added and special products in its portfolio. Considering the growth potential in these value added segments, the Company has decided to set up the following downstream facilities
i) Setting up 0.3 MTPA colour coated line at CRM1 complex at Vijayanagar
ii) Modernisation and Capacity Enhancement at Vasind & Tarapur by 1.5 MTPA by setting up PLTCM instead of earlier planned 0.96 MTPA BCTM
iii) Installation of an additional Tin Plate line with capacity of 0.25 MTPA at Tarapur
iv) Capacity enhancement of Pre-Painted Galvalume Line (PPGL) at Kalmeshwar by 0.22 MTPA
These projects, in phases, are likely to be commissioned between September 2019 and March 2020. The overall project cost for the above new projects is expected to be ?1,470 crores.
(c) Cost reduction projects and manufacturing integration
i) Setting up of 8 MTPA pellet plant and 1.5 MTPA coke oven plant at Viiavanaqar:The Company has decided to set up a 8 MTPA pellet plant at Vijayanagar to strategically reduce the dependency on more expensive lump iron ore. The Company has also decided to set up a 1.5 MTPA coke oven plant at Vijayanagar to bridge the current and expected gaps in coke availability. Both these projects are expected to provide significant cost savings and are likely to be commissioned by August 2019 and March 2020 respectively, at an estimated cost of INR 5,200 crores.
ii) Phase-2 Coke Oven plant of 1.5 MTPA under DCPL: The Company through its subsidiary, DCPL would set up a second phase of 1.5 MTPA coke oven plant along with CDQ facilities to cater to the additional coke requirement for the crude steel capacity expansion to 10.7 MTPA at Dolvi. This project is expected to be commissioned by June 2020 at an estimated cost of INR 2,050 crores.
iii) Setting up 175 MW and 60 MW power plants at Dolvi: The Company will set up power plants of 175 MW and 60 MW to effectively utilise flue gases and steam generated from CDQ, which will lead to savings in power costs. These power plants are expected to be commissioned in March 2020 at an estimated cost of INR 975 crores.
The overall estimated capex plan of INR 26,815 crores announced last year, is expected to be enhanced by – INR 17,600 crores to implement the above new projects. Overall, the Company is now implementing a cumulative capex pipeline of INR 44,415 crores over a 4 year period between FY2018 to FY2021.
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