JSW Steel united states to invest $110 million in …

JSW Steel united states to invest $110 million in Texas facility

A US steel company has announced plans to invest more than $110 million in offshore wind energy projects in the US state of Texas, according to the company s latest announcement on a new steel plate mill manufacturing facility in Baytown, Texas which is expected to be completed by February. These investments are being approved by the Treasury, US. () The US company says it is investing hundreds of millions in steel plates to support the Trump administration’s new actions to expand the energy spectrum in US power supply and renewable energy sectors in an attempt to increase the number of homes with clean energy and decarbonisation of the country. Here is the full outline of its plans for the first time in nearly two decades, and it has been given the go-ahead by US President Barack Obama to develop steel products made from monopile steel, made by JSW Steel USA, Inc., to help boost the power of high-quality steel to power 10 million homes across the United States of America, as part of an ambitious expansion of US wind power and wind turbine schemes to boost US energy by 2030, in order to tackle climate change and the future of energy in its growing markets. The company said it will invest $1.1bn (£1.4tn) during the pandemic, but it does not see further investment in modernisation projects ahead of next year. A huge investment is due to take place in Texas and New York, with sustainable technology and new equipment designed to provide innovative technologies and equipment.

Source: thehindu.com
Published on 2024-06-25

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