Jindal Stainless plans to invest Rs 15 billion to expand capacity

Company says, with all the infra already available at its Kalinganagar unit, the incremental cost for pursuing expansion will be lower


The NCLAT modified its earlier order and asked the CoC to go ahead with the resolution process and place it before the adjudicating authority

Jayajit DashNirmalya Behera Bhubaneswar
Leading stainless steel maker Jindal Stainless Ltd plans to invest Rs 15 billion to expand the capacity of its Steel Melting Shop (SMS) from 0.8 to 2.2 million tonnes per annum (mtpa) and double its cold roll mill capacity from 0.8 to 1.6 mtpa.

“We are seeking environment clearance for 2.2 million tonne per annum (mtpa) of the SMS. Without much investment, we will reach 1.1 mtpa by next year and 2.2 mtpa in another two years. We will be expanding in two phases. Though we've sought approval for 2.2 mtpa, we're looking at an operational capacity of 1.6 mtpa,” a company source said.

However, the expansion of the SMS will depend on the behaviour of the market, he added.

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First Published: Sep 27 2018 | 6:29 PM IST

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