Jindal India, a downstream steel player, on Thursday announced its plans to invest Rs 1,500 crore to increase its annual production capacity to 1.6 million tonne.
The expansion focuses on the production of coated flat products, pipes, and crash barriers, the company said in a statement.
“Jindal India announces a capex spend of over Rs 1,500 crore to effect a strategic capacity expansion of 0.6 Million MT, a 60 per cent increase from its current capacity of 1 million metric tonne per annum,” it said.
The expansion is expected to be completed by the financial year 2025-26, while the production is slated to be started within the ongoing fiscal, it said.
The increased focus on rapidly augmenting the nation’s highway network with critical safety components such as crash barriers is a key area where Jindal India has been adding value, a company spokesperson said.
Part of B C Jindal Group, Jindal India Limited is into manufacturing of colour-coated and galvanized steel sheets and coils, cold rolled steel, and electric resistance welding (ERW) galvanized among others.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 19 2024 | 9:05 PM IST
