Jindal Steel & Power Ltd. (JSPL)
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Jindal Steel plans $2.4-billion spend in six years, double output
release time :2021-08-26 13:48:27 page view:423

Aug. 25, 2021 - 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 investments for growth, after aggressively slashing its debt levels by more than 60% since 2018. The expansion plan is driven by expectations of robust consumption as India aims to invest 100 trillion rupees ($1.3 trillion) in infrastructure to boost economic growth and create jobs. 

Jindal Steel & Power Ltd. (JSPL)

Address: 12 Bhikaiji Cama Place New Delhi Postal Code: 110 066 Website: http://www.jindalsteelpower.com

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