Jindal Steel plans $2.4-billion spend in six years, double output

Jindal Steel & Power Ltd. plans to spend $2.4 billion over the next six years to ramp up capacity, joining its peers in announcing massive expansions as a recovery from the pandemic boosts demand.
 

The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said in an investor presentation on Tuesday. The expenditure also includes plans to more than double pellet production capacity to 21 million tons by 2024, it said.

The Naveen Jindal-led mill, once India’s biggest steelmaker by market value, is set to make fresh