share price with gains of almost 4.2% scaled 52 week highs on Friday and was amongst largest Nifty 50 gainers. JSW Steel USA Ohio Inc, wholly owned indirect subsidiary of JSW Steel announced its proposal for raising long-term funds of around 30 years tenor for an aggregate principal amount of $145 million.

The proceeds of the loan are proposed to be utilised for the purpose of financing, in whole or in part, the cost of the acquisition, construction, equipping, and installation of a vacuum tank degasser and improvements to a continuous slab casting machine including dynamic soft reduction technology and other initiatives to be implemented by JSW Ohio such as Caster upgrades, Auxiliary Systems, infrastructure improvements and certain ancillary equipment in order to provide for improvements in slab quality and slab production capabilities, including the ability to produce thicker slabs at its site located in Mingo Junction, Ohio. The proceeds will also be used for funding capitalized interest and (paying certain costs of issuing the Bonds. The investments in subsidiary to improve its performance remains favorable for JSW Steels consolidated operations looking at the fact that its foreign subsidiaries have been dragging overall performance and have seen lumpiness in their earning performances. The EAF-based steel manufacturing facility in Ohio, USA, had produced 1,51,313 net tonnes of slabs during the September quarter. Sales volumes for the quarter stood at 59,136 net tonnes of Hot Rolled Coil and 1,16,091 net tonnes of Slabs. The adverse market conditions in developed markets like the US with rising interest rates has meant that volumes were slightly lower. The subsidiary had reported a EBITDA loss of $29.4 million for the September quarter. JSW Steel had attributed the weak performance of the subsidiary to Lower volumes impacted by adverse market conditions in the US, as well as lower steel prices impacted performance during the quarter. JSW Steel however has been seeing reporting good growth and earnings performance led by domestic operations. The Company registered revenue from Operations of 44,584 crores and Operating EBITDA of 7,886 crores, during Q2 with an Ebitda margin of 17.7%. The EBITDA improved by 12% sequentially, driven by higher sales volumes, and lower coking coal cost.and came better than analysts estimates. Though volatility in raw material prices and steel prices may remain near term headwinds, however long term growth drivers remain intact say analysts Analysts at Prabhudas Lilladher believe that JSW Steel with its superior execution skills will be key beneficiary of strong domestic demand scenario over next few years. They expect revenue, Ebitda and net profit growth of 15%, 31% and 74% over FY23-26. JSW Steel Livemint tops charts as the fastest growing news website in the world to know more.