JSW Steel plans to invest more than Rs two lakh crore over the next five to six years as it targets a 50 percent increase in its steelmaking capacity.

Chief executive officer Jayant Acharya said the company has already announced projects worth Rs one lakh crore to be executed over the next four to five years, with additional investments planned for brownfield expansion at Vijayanagar, completion of the second phase at JSW Utkal, and expansion of its joint venture at Bhushan Power and Steel. JSW Steel currently has an annual production capacity of 34.2 million tonne in India and aims to raise it to over 50 million tonne by the end of the decade, excluding Bhushan Power.

The Bhushan Power facility is planned to expand capacity to 10 million tonne from 4.5 million tonne through a joint venture with JFE Steel. The company is also setting up a green steel plant at Salav in Maharashtra.