Jindal Stainless reveals a major investment strategy aimed at capacity expansion.
Jindal Stainless has announced a significant investment plan amounting to ₹5,400 crore to boost its melting and downstream capacities. The company will be implementing a three-pronged approach to achieve this. One of the key highlights is the formation of a joint venture in Indonesia for the development and operation of a stainless-steel melt shop, with an annual production capacity of 1.2 million tonnes per annum (MTPA). This venture, involving an investment of ₹700 crore, is expected to increase the company’s melting capacity by 40 percent, reaching 4.2 MTPA.
Additionally, Jindal Stainless has allocated ₹1,900 crore for expanding its downstream lines in Jajpur and Odisha, along with nearly ₹1,450 crore for associated infrastructural upgrades. Furthermore, the company has revealed plans to acquire a 54 percent equity stake in Chromeni Steels (CSPL), which operates a 0.6 MTPA cold rolling mill in Mundra, Gujarat, through a structured indirect acquisition deal worth ₹45 crore, inclusive of taking over existing debt of ₹1,295 crore.
