Investment19 Apr 2025, 12:53 am
JSW Steel Italy Piombino S.P.A. Signs Development Contract with Italian Government, Receiving Euro 33 Mn Grant
AI Summary
JSW Steel Italy Piombino S.P.A., a wholly owned subsidiary of JSW Steel Limited, has signed a Development Contract with the Ministry of Enterprise & Made in Italy, the Tuscany Region, and INVITALIA. The contract is in line with a previous MoU and includes a Euro 33 Mn grant from the Italian Government towards the Rail Mill Modernisation Project, which will nearly double the capacity of the Rail Mill from around 0.32 MTPA to 0.6 MTPA. This project will also enhance the length of the rails being made at JSW lItaly from 108 meters to upto 120 meters and provide unique capability to make technologically sophisticated ‘Head Hardened’ rails at Piombino.
Key Highlights
- JSW Steel Italy Piombino S.P.A. signs Development Contract with the Italian Government
- Grant of Euro 33 Mn from the Italian Government through INVITALIA
- Rail Mill Modernisation Project implementation at an estimated project cost of Euro 143 Mn
- Nearly doubling the capacity of the Rail Mill from around 0.32 MTPA to 0.6 MTPA
- Enhancement of rail length from 108 meters to upto 120 meters and unique capability to make technologically sophisticated ‘Head Hardened’ rails at Piombino