New Delhi: JSW Steel USA Ohio, a subsidiary of JSW Steel, has announced a $145 million investment in new projects to enhance its manufacturing operations in Mingo Junction, Ohio. The move aims to meet the demand for quality steel products that are “melted and manufactured in the US” and aligns with President Biden’s Buy America policies. The announcement was made at the SelectUSA Investment Summit held in National Harbour, MD.
The investments will help JSW Steel USA upgrade its operations, widen its product portfolio, and strengthen its service capabilities to meet the growing needs of the renewable energy and infrastructure segments. One of the primary projects included in the investment plan is the installation of one of the largest vacuum tank degassers (VTD) in the world. The VTD will have substantially lower carbon emissions compared to a traditional steam ejector vacuum technology, and it will help JSW Steel USA reduce the hydrogen content in its steel products through the electrification of metallurgical processes.
JSW Steel USA is also executing Dynamic Soft Reduction (DSR) technology in its casting operations. The improvements in domestic slab production capabilities will help mitigate risks bought with improve profitability of the business, importing slabs, and create employment opportunities in the US. The projects are expected to be completed and commissioned in FY26.
Parth Jindal, Director of JSW Steel USA, stated that “These new investments reiterate JSW’s commitment to a sustainable and green future. The operational enhancements being made at JSW Steel USA are a progressive step towards achieving our long-term ESG goals.” The investments also demonstrate the company’s confidence to upgrade its global footprint with talent from Ohio, according to Ohio Governor Mike DeWine. He added that “Choosing Ohio for this expansion brings good-paying jobs to Jefferson County while helping secure a stronger domestic supply chain for steel manufactured in the United States.”
JSW Steel USA has long championed the Department of Energy’s (DOE) emission reduction priorities and applauds its recent efforts to promote infrastructure that reduces the carbon footprint of the iron and steel industry through pivotal legislation such as the Inflation Reduction Act. The proposed investments will help JSW Steel USA serve its customers across several end-markets with steel products that are melted in the USA in a facility with low carbon emissions.
The investments will also provide JSW Steel USA additional momentum for growth while ensuring its commitment to sustainability in its markets, according to Mike Panzeri, COO of the Mingo Junction facility. Chief Commercial Officer of JSW USA, Cory Raimondi, added that “These projects will strengthen JSW Steel USA’s manufacturing capability, widen its product portfolio, and help us to strengthen our service capabilities to meet the growing needs of the renewable energy and infrastructure segments.”
The investments by JSW Steel USA will also add an element of economic sustainability to its Ohio footprint in Jefferson County, according to Robert Naylor, Executive Director of the Jefferson County Port Authority. Mike Jacoby, President of Ohio Southeast Economic Development, added that “We thank JSW for the investment in new jobs and capital in the Southeast Ohio region, and we’re proud to support the company’s efforts through the JobsOhio Revitalization Grant program.”
In conclusion, JSW Steel USA’s investment in new projects to upgrade its manufacturing operations in Ohio is a progressive step towards achieving the company’s long-term ESG goals. The move also aligns with President Biden’s Buy America policies and demonstrates the company’s confidence in growing its global footprint with talent from Ohio. The investments will provide JSW Steel USA additional momentum for growth while ensuring its commitment to sustainability in its markets, and they will also help create employment opportunities in the US.