Mumbai, India-headquartered JSW Steel announced a $500 million investment into the expansion of a steel mill in Baytown, Texas. Governor Greg Abbott said that this move will add up to 500 new jobs at an average salary of $65,000.
“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,” Abbott said. “Made in Texas is a powerful label, and I thank JSW for investing in our great state.”
JSW said the deal “is part of our long term strategy to enhance our U.S. footprint” and “provides JSW USA an opportunity to participate in USA’s infrastructure development and job creation priorities.”
“India is the fastest-growing international economy,” Abbott added, and increasing trade with the country “will be extremely profitable for Texas companies for decades to come.” Abbott also said he is working with Indian firms to increase shipments from Texas to India of liquefied natural gas, and open new markets for businesses in both countries of technology and machinery, among other products.
