JSW Steel Unveils Massive 850 MT Coking Coal Project in Mozambique

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JSW Steel Secures Massive Coking Coal Project in Mozambique

JSW Steel | The company has become India's largest steel producer after having rapidly expanded its capacity from 8 MTPA in FY10 to 34 MTPA in FY25. It also has plans to raise it to 42 MTPA by September-2027, led by a 5 MTPA Dolvi expansion and de-bottlenecking. Expansions are also planned in Andhra Pradesh with an aim to take the capacity to 50 MTPA by financial year 2031. Jefferies said that India flat steel spot prices may see further improvement as Asian spreads bounce back. JSW Steel's EBITDA per tonne may expand to ₹8,500 in the December quarter to ₹11,600 in the March quarter and then to ₹14,000 by financial year 2027-2028, Jefferies said. Price target of ₹1,400 implies a premium to Tata Steel considering the former's higher India exposure, higher EBITDA sensitivity to rising steel prices and the absence of any mine-related overhang after 2030.

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CNBC TV18•14-03-2026, 00:46

JSW Steel Secures Massive Coking Coal Project in Mozambique

•JSW Steel announced the Minas de Revuboè (MdR) coking coal mining project in Mozambique's Moatize coal basin.
•The project holds 850 million tonnes of reserves, with potential to yield 250 million tonnes of usable coking coal.
•First phase development over 2.5 years aims to produce 2.4 million tonnes per annum of prime hard coking coal.
•Crucial for JSW's backward integration strategy, ensuring long-term coking coal supply for Indian steel plants.
•The announcement was made in Moatize, attended by Mozambique President Daniel Francisco Chapo and Parth Jindal.

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