Mumbai: JSW Steel
USA, a subsidiary of India’s leading steel company, on Tuesday said it plans to
invest $110 million in steel projects in the state of Texas.
The company said
this investment will enable the production of high-quality monopile steel
plates to support the Joe Biden administration’s new actions to expand offshore
wind energy by deploying 30 gigawatts (GW) of offshore wind by 2030, enough to
power 10 million homes with clean energy.
JSW Steel USA is
part of the $24 billion JSW Group, with over 800 employees.
“The new
investments will enable us to progressively deliver high-quality steel products
while further defining our niche markets through a ‘Made in America’ speciality
steel portfolio,” said Parth Jindal, Director of JSW Steel USA.
“These investments
have the potential to significantly reduce US import reliance in the
infrastructure and renewable energy sectors,” he added.