The
company is likely to utilise the land parcel either for the expansion of its
steel plant or development of an integrated township
JSW
Steel has acquired over 30.5 acre land parcel in Pen, near its existing 10
million tpa integrated steel plant at Dolvi in Pen near Mumbai.
The
company has purchased the land parcel for Rs 23.22 crore. It had paid nearly Rs
14.82 crore as advance payment towards the same in December 2018.
The
company is likely to utilise the land parcel either for the expansion of its
steel plant or development of an integrated township.
It
has recently expanded the capacity of its Dolvi plant, which came to JSW Steel
through the acquisition of Ispat Industries in 2010, from 3.3 million tonne to
10 million tonne.
JSW
Steel has announced its plan to invest over Rs 48,000 crore in the next three
years as part of its capital expenditure proposal in a bid to expand its
capacity. Of this, capital expenditure worth Rs 20,000 crore is for FY23.