Steel producer JSW Steel on Friday reported a 19 percent year-on-year growth in its consolidated crude steel production for August at 22.86 lakh tonnes, compared to 19.22 lakh tonnes in the year-ago month.

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Capacity utilisation at Indian operations level stood at 94.3 percent, the steelmaker, which is the flagship firm of $23 billion diversified JSW Group, said in a filing to the stock exchanges.

Crude steel production of Indian operations rose by 17 percent in the month to 22.15 lakh tonnes, compared to 18.99 lakh tonnes in the year ago period.

The production of JSW Steel USA - Ohio surged 214 percent to 0.71 lakh tonnes in August from 0.23 lakh tonnes in the same month last year.

The company stated that the Indian Operations production volume include the steel output of JSW Ispat Special Products Limited and its subsidiary, Mivaan Steels Limited.

The merger of the joint venture, Creixent Special Steels Ltd along and its subsidiary JISPL has become effective on 31 July 2023, the filing stated.

The company had reported a 12 percent year-on-year growth in consolidated crude steel production at 20.39 million tonnes for July.

JSW Steel and JFE Steel Corporation of Japan in July had announced a collaboration to set up a JV company in India for manufacturing of cold rolled grain oriented electrical steel products.

The special steel is a key input used for the manufacturing of transformers which is pertinent for generation, transmission and distribution of electricity to end-users.

JSW Group has interests in energy, infrastructure, cement, paints, sports, and venture capital. JSW Steel is India’s leading integrated steel company with a capacity of 29.7 million tonnes per annum in India and the United States (including capacities under joint control).

JSW Steel shares were trading flat at Rs 819.05 apiece on BSE at 9.35 AM. The stock climbed 5 percent so far this year and gained nearly 20 percent in the last one year.