Jindal Stainless Ltd (JSL), one of India’s leading steel manufacturers, on Wednesday, May 1, announced a significant expansion plan to enhance its melting and downstream capacities. The company plans to invest an estimated INR 5,400 Crore towards capacity expansion over the next two years.
Jindal Stainless will invest an estimated INR 700 Crore to expand its melting capacity by 40%. This move will increase the company’s melting capacity to 4.2 MTPA (Million Tonnes per Annum). Furthermore, the company will allocate around INR 1,900 Crore to expand its downstream lines in Jajpur, Odisha.
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The company will also earmark nearly INR 1,450 Crore for infrastructure facilities. These include improvements in railway siding, sustainability projects, and renewable energy generation. Additionally, Jindal Stainless plans to acquire a 54% equity stake in Chromeni Steels Private Limited (CSPL), which owns a 0.6 MTPA cold rolling mill in Gujarat’s Mundra. The acquisition deal involves an outlay of around INR 1,340 crore, including existing debt takeover and equity purchase.
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