Jindal Steel plan $2.4 Bln capex to nearly double capacity
Jindal Steel & Power plans to spend $2.4 billion on expansion projects in Odisha over the next six years.
The company targets to almost double production capacity by 2025, according to an investor presentation with stock exchanges.
The integrated steel maker intends to raise steel production capacity to 15.9 million tonnes by 2025 from 8.5 million tonnes now through brownfield expansions at a cost of $390 a ton.
Expansion plans also include investment in cost saving projects. The company planst to raise its pellet plant capacity to 21 million tonnes by March 2024 fom 9 million tonnes right now.
Shares of Jindal Steel & Power advanced 2.66% To Rs 382.65 apiece.
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