JSW Steel Rolls Out JSW Magsure to Support RE Sector with Alloy-Coated Steel
JSW Magsure addresses India's dependency on imported Zinc-Magnesium-Aluminium alloy-coated steel, which has seen a market growth from approximately 15,000 metric tonnes in 2020 to about 120,000 tonnes in FY24.
June 01, 2024. By Abha Rustagi
JSW Magsure addresses India's dependency on imported Zinc-Magnesium-Aluminium alloy-coated steel, which has seen a market growth from approximately 15,000 metric tonnes in 2020 to about 120,000 tonnes in FY24. The current fiscal year anticipates a doubling of this demand to 2.5 lakh tonnes, valued at INR 2,200 crores, driven largely by the renewable energy sector.
JSW Steel’s Joint Managing Director and CEO, Jayant Acharya, highlighted the strategic importance of this development, stating, “JSW Steel is committed to be the forebearer of innovation in the Indian steel industry. We are optimizing our coated products mix to service the nation’s requirements for indigenous Made In India superior quality Zinc-Magnesium-Aluminium alloy coated steel. JSW Magsure will help us to capitalize on emerging opportunities in the Indian market while supporting the government’s 2030 renewable energy targets and Atmanirbhar Bharat mission.”
The production of JSW Magsure at JSW Steel’s Karnataka and Maharashtra facilities, which have a capacity of up to 0.9 million tonnes per annum, will also explore export opportunities in Europe and the Middle East. This steel is noted for its superior corrosion resistance, making it ideal for applications in solar installations, silos, guard rails, and AC parts, among others.
Amarjit Singh Dahiya, Business Head of JSW Steel Coated Products Limited, emphasized the product's advanced technical properties, stating, “JSW Magsure is a technically advanced product with superior corrosion resistance properties with application across a wide variety of industries, particularly in highly corrosive environments. This unique Made in India opportunity gives us the confidence to further enrich our offering to customers. The demand for an indigenous Made In India product is strong as indicated by the robust order book for JSW Magsure.”
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