JSW Steel, India’s largest steelmaker, has developed a breakthrough product called JSW Magsure. This zinc-magnesium-aluminium alloy coated steel is set to replace the country’s imports of a vital coated steel product. These imports were previously necessary for highly corrosive environments in the renewable energy sector.
Increase in Demand: The demand for JSW Magsure soared in 2023-24, reaching an impressive 100,000 tonnes. The company expects the demand to more than double this year, reaching a staggering 250,000 tonnes. The surging demand can be attributed to the remarkable growth of the renewable energy sector. Ashwani Sharma, the Executive President for JSW Steel Coated Business, expressed his optimism about the product, stating, “Demand for this product is expected to go up to 250,000 tonnes this year, driven by renewable energy.” In response to this increased demand, JSW Steel plans to produce 145,000 tonnes of JSW Magsure to cater to the growing market.
Domestic and Global Supply: JSW Steel has a two-pronged strategy for the distribution of JSW Magsure. Domestically, the company aims to supply 120,000 tonnes of the coated steel product. Additionally, they plan to export 25,000 tonnes to international markets. Adani Green Energy, a significant player in the renewable sector, has already received a consignment of 5,000 tonnes of JSW Magsure. The two parties are currently in negotiations for an additional 5,000 tonnes over the next three months. Furthermore, discussions are underway with industry giants Reliance Industries and NTPC to secure more opportunities for satisfying the rising demand.
The Advantages of JSW Magsure: While JSW Steel already manufactures another product, JSW Galvalume, which meets the demand for corrosion-resistant steel, JSW Magsure has distinct advantages. The newly developed product offers even higher corrosion resistance, making it a more desirable option for highly corrosive environments. This innovation signifies JSW Steel’s commitment to remaining at the forefront of steel manufacturing technologies.
Manufacturing & Capacity: JSW Steel has invested a substantial amount of 5 billion rupees in capital expenditure to develop and manufacture JSW Magsure. The state-of-the-art manufacturing facilities in Vijayanagar and Vasind will have a total annual production capacity of up to 900,000 tonnes. With JSW Magsure’s growing popularity in the renewable energy sector, India’s dependence on imported coated steel products could soon be a thing of the past. JSW Steel’s innovative solution is engineered to overcome challenges posed by highly corrosive environments. As the demand for renewable energy continues to rise, the company’s strides in creating cutting-edge steel technology promise a more sustainable and self-reliant future for India.
