Rs 5,400 crore investment planned chalked out by Jindal Stainless
Jindal Stainless Steel Ltd (JSL) has chalked out an investment plan worth Rs 5,400 crore to boost production capacity and make acquisitions. JSL's investment strategy involves pursuing growth through a blend of organic and inorganic expansions over the next 3 years.
The firm would invest Rs 700 crore and formed a joint venture (JV) with a Singapore entity for developing and operating a stainless steel melt shop (SMS) in Indonesia with an annual production capacity of 1.2 million tonnes per annum (MTPA). JSL will also be expanding its downstream lines in Jajpur, Odisha, at an investment of around Rs 1,900 crore over the next two years.
Rs 1,450 crore has been set aside towards the associated upgrade of infrastructure facilities, such as railway siding, sustainability-related projects, and renewable energy generation around the Jajpur facility. The firm is also acquiring a 54% equity stake in Chromeni Steels Private Limited (CSPL), which owns a 0.6 MTPA cold rolling mill located in Mundra, Gujarat, and the transaction entails an outlay of around Rs 1,340 crore.
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