JSW Steel (USA) plans to spend up to $1 billion on major investments in the United States, including $500 million to install a hot end at its Baytown, Texas, plate mill and $500 million in an acquisition and associated investments at the Acero Junction mill in Ohio, the company's top executive said.
That spending comes as the company's focus, which initially targeted heavy plate and energy markets in the Gulf region, is now expanding, JSW Steel chief executive officer John Hritz said at the Steel Success Strategies XXXIII conference in New York on Tuesday June 26. "As our vision grew, we ultimately knew that we had to upgrade, technologically," he said in response to audience questions at the event, co-sponsored by American Metal Market and World Steel Dynamics Inc. The company is...