JSW Steel Ltd said on Monday it would invest up to $500 million for expanding its operations in Texas as part of a memorandum of cooperation between its US unit and the Texas Governor's office.
As part of the memorandum, the governor has also approved a grant worth $3.4 million from the Texas Enterprise Fund to JSW Steel (USA) Inc, the steelmaker said in a statement.
The plant, which will come up at Baytown, will create at least 500 jobs in his state, Abbott said.