Gov. Abbott announces $500 million investment for JSW Steel in Baytown
BAYTOWN, Texas – Texas Gov. Greg Abbott announced this week a $500 million investment from India-based JSW Group to expand its steel operations in Baytown.
The governor said the investment will create hundreds of new jobs for JSW Steel.
"JSW's motto is 'Better Everyday,' and that's the same approach we take in Texas," Abbott said. "The $500 million investment from JSW Steel to expand its operations in Texas shows what we can achieve when we work to be better every single day. Made in Texas is a powerful label, and I thank JSW for investing in our great state. We look forward to forging an even stronger partnership and continuing economic and job growth in the Lone Star State."
"The Memorandum signed by Greg Abbott and JSW USA is part of our long term strategy to enhance our U.S. footprint," Parth Jindal, director of JSW USA, said. "It reiterates our commitment to stay invested and grow in the U.S. market. It also provides JSW USA an opportunity to participate in USA’s infrastructure development and job creation priorities. Access to natural gas at extremely economical prices and the abundant availability of scrap steel in Texas make conditions very conducive for manufacturing through the Electric Arc Furnace route. JSW Steel (USA) Inc. wishes to create a world class fully integrated steel complex that will bring precision manufacturing of high quality steel plate and pipe to Texas, USA."
The investment will happen in phases to expand the company's Plate & Pipe Mill unit in Baytown.
Copyright 2018 by KPRC Click2Houston - All rights reserved.