Jindal Stainless to invest Rs 5,400 crore to increase capacity to 42 lakh tonnes

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Abhyudaya Jindal, Managing Director of Jindal Stainless Limited Company, informed that the company will increase its production capacity to 42 lakh tonnes annually by investing Rs 5,400 crore. He said that this investment will be made during the next two years. Also said that about 90 percent of the investment will come from internal sources.

New Delhi. Jindal Stainless Limited (JSL) will invest Rs 5,400 crore to expand its production capacity to 42 lakh tonnes per annum. Company’s Managing Director Abhyudaya Jindal gave this information on Wednesday. Addressing a press conference, Jindal said that this investment will be made during the next two years. He said that about 90 percent of the investment will come from internal sources. Sharing details of the investment plan, Jindal said, “This will increase the company’s melting capacity by 40 per cent to 42 lakh tonnes per annum with an investment of over Rs 700 crore.”

Second, the company has set aside about Rs 1,900 crore for expansion of downstream lines at its plant in Jajpur, Odisha. Additionally, the company has earmarked approximately Rs 1,450 crore for related upgrades to infrastructure facilities such as railway sidings, sustainability-related projects and renewable energy generation. Also, the company will acquire 54 percent equity stake in Chromeni Steels Private Limited (CSPL).

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.



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