JSW Steel Ltd announced big bang announcement on Monday for its United States unit is planning to invest up to $500 million to expand its Texas facility, as part of a Memorandum of Cooperation signed with the Texas Governor’s office.
The representative said in a press release has additionally affirmed an allow worth $3.4 million from the Texas Enterprise Fund to JSW Steel (USA) Inc, the steelmaker said in an announcement.
The capex design, which will be finished by March 2020, incorporates setting up a liquefy fabricate adjoining plate and pipe manufacturing plant in Texas, JSW said.
The speculation comes during a period of rising worries around a raising exchange war between the United States and different nations over tariffs and duties.
India’s Trade Minister Suresh Prabhu said a week ago the nation will respectively examine import controls on steel with the United States after U.S. President Donald Trump had squeezed ahead with import levies on steel and aluminum goods and products.