Jayant Acharya, Joint Managing Director and CEO of JSW Steel, said last year was a transformation year, marked by strong operational performance, the conclusion of a joint venture with JFE Steel, and the signing of a joint venture with POSCO. He said these partnerships add about 16 million tons per annum capacity by 2032, bringing JSW Steel's total capacity to nearly 80 million tons, making it one of the largest steelmakers outside China. Acharya emphasized India's growth story over the next two decades, driven by manufacturing, infrastructure, and renewable energy. He noted the company has 25 iron ore mines, 13 operational, with 1.7 billion tons of resources, and aims for 50% captive iron ore. He said expansions in the US are ending, with no additional investments planned there or in Europe, focusing on India. He guided net debt to EBITDA at 1.8, with a comfort level of 2.5 or below. Near-term capacity additions at Vijayanagar and Dolvi will add 7 million tons.
| Figure | What it refers to | Type | At |
|---|---|---|---|
| 16 million tons per annum | Capacity addition from JV with JFE and POSCO by 2032 | guidance | 0:02 |
| 80 million tons per annum | Total capacity target by 2032 | guidance | 0:02 |
| 62 million tons | JSW Steel's own capacity | metric | 1:05 |
| 78 million tons | Capacity in India including JVs | metric | 1:05 |
| 25 mines | Total iron ore mines | metric | 1:05 |
| 13 operational | Operational iron ore mines | metric | 1:05 |
| 1.7 billion tons | Iron ore resources | metric | 1:05 |
| 50% | Captive iron ore target | guidance | 1:05 |
| 1.8 | Net debt to EBITDA at exit of last year | metric | 1:05 |
| 7 million tons | Capacity addition from Vijayanagar and Dolvi expansions | guidance | 5:50 |
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Sign in to read the full transcriptAcharya, J. (2026, May 18). How JSW Steel's Joint Ventures Put It On Track To Being Among Top Global Steelmakers Outside China [Interview transcript]. Mint. CEOInterviews.AI. https://ceointerviews.ai/interview/1014034/
Jayant Acharya. "How JSW Steel's Joint Ventures Put It On Track To Being Among Top Global Steelmakers Outside China." Mint, 18 May. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1014034/.
@misc{acharya2026_1014034,
author = {Jayant Acharya},
title = {How JSW Steel's Joint Ventures Put It On Track To Being Among Top Global Steelmakers Outside China},
howpublished = {Interview transcript, Mint. CEOInterviews.AI},
year = {2026},
month = {may},
url = {https://ceointerviews.ai/interview/1014034/},
note = {Speaker-attributed transcript with timestamps}
}