Jindal Steel plans $2.4 bn investments to improve demand prospects

01 Sep 2021 CW Team

In its August investor presentation, the firm said that the domestic steel prices have recovered from the volatility caused by Covid-19 and are increasingly spurred by developing the prospects of demand.

The steelmaker is going to increase its total capacity from 8.6 mt to 15.9 million tons (mt) by March 2025. As per the source, the company plans to double pellet production capacity to 21 million tons by 2024.

The steel company has announced that its board had sanctioned fundraising measures that include issuing senior, fixed-rate, non-convertible, unsecured or LIBOR notes worth US $1 billion in a statement to the stock exchanges on Monday.

The plans of JSPL cover raising money as a part of its long-term goal to become free of debt and develop the production capacity to 15.9 mt by FY 2024.

The steelmaker told the media that its objective is to increase its production capacity to 27 mtpa using clean energy sources in its vision 2030 laid out earlier. It said it was on its way to cutting down its debt while going for a new capital expenditure cycle in May this year.

JSPL plans to extend its production capacity from 9 mt as of FY 2021 again at Angul. JSPL is contemplating a foray into container-making from its Angul facility, starting with a manufacturing capacity of 15,000 containers per year.

It is also setting up a 2.25 mt hot rolled coil (HRC) plant at Andhra Pradesh in Nellore district, a southern province. The HRC plant will aim for export markets since the plant is situated near Krishnapatnam Port in South India.

Naveen Jindal's mill, JSPL Chairman, which was once the largest steelmaker of India by market value, is making new investments for development after aggressively decreasing its debt levels by more than 60% since last year.

Image Source

Also read: JSPL will invest Rs 1 lakh crore in Odisha for next 10 years

Also read: Jindal Steel to launch 2.25 mt steel plant in Andhra Pradesh

Jindal Steel & Power Limited, one of the foremost steel companies in India, declared plans to spend $2.4 billion to increase capacity throughout the next six years, as the recovery from the Covid-19 pandemic boosts the demand for steel. In its August investor presentation, the firm said that the domestic steel prices have recovered from the volatility caused by Covid-19 and are increasingly spurred by developing the prospects of demand. The steelmaker is going to increase its total capacity from 8.6 mt to 15.9 million tons (mt) by March 2025. As per the source, the company plans to double pellet production capacity to 21 million tons by 2024. The steel company has announced that its board had sanctioned fundraising measures that include issuing senior, fixed-rate, non-convertible, unsecured or LIBOR notes worth US $1 billion in a statement to the stock exchanges on Monday. The plans of JSPL cover raising money as a part of its long-term goal to become free of debt and develop the production capacity to 15.9 mt by FY 2024. The steelmaker told the media that its objective is to increase its production capacity to 27 mtpa using clean energy sources in its vision 2030 laid out earlier. It said it was on its way to cutting down its debt while going for a new capital expenditure cycle in May this year. JSPL plans to extend its production capacity from 9 mt as of FY 2021 again at Angul. JSPL is contemplating a foray into container-making from its Angul facility, starting with a manufacturing capacity of 15,000 containers per year. It is also setting up a 2.25 mt hot rolled coil (HRC) plant at Andhra Pradesh in Nellore district, a southern province. The HRC plant will aim for export markets since the plant is situated near Krishnapatnam Port in South India. Naveen Jindal's mill, JSPL Chairman, which was once the largest steelmaker of India by market value, is making new investments for development after aggressively decreasing its debt levels by more than 60% since last year. Image Source Also read: JSPL will invest Rs 1 lakh crore in Odisha for next 10 years Also read: Jindal Steel to launch 2.25 mt steel plant in Andhra Pradesh

Infrastructure Transport

30 Oct 2025

RVNL wins North Eastern Railway bridge project worth Rs 1.66 billion

Rail Vikas Nigam Limited (RVNL) announced on 27 October that it has emerged as the lowest bidder (L1) for a significant infrastructure project awarded by the North Eastern Railway, as part of its routine business operations. The project involves the construction of the substructure for Important Bridge No. 50, which will comprise 14 spans of 61 metres each. It will feature a Double D-type well foundation designed for a double line and adhere to the RDSO 25T axle loading standard. The bridge will be built over the river Gandak, situated between Paniyahwa and Valmikinagar stations, as part of ..

Infrastructure Transport

30 Oct 2025

Northern Railways plans direct Kashmir link with India

Following the successful launch of twin Vande Bharat trains on the Srinagar–Katra route, marking the completion of the Udhampur–Srinagar–Baramulla rail link in June, Northern Railways is now working towards providing direct rail connectivity between Kashmir and the rest of the country, an official has confirmed. Senior Divisional Commercial Manager of the Jammu Division, Uchit Singhal, said that efforts are underway to resolve operational and security challenges to achieve this milestone for Jammu and Kashmir. Speaking to PTI after introducing a two-minute stoppage for the semi-high-sp..

Infrastructure Transport

30 Oct 2025

Railway Board approves new station at Nedumbassery airport

The Railway Board has approved the construction of a new railway station at Nedumbassery, fulfilling a long-standing demand from air passengers using the Cochin International Airport. Union Minister George Kurian’s office announced on Wednesday that the decision marks a major step towards enhancing rail connectivity to the airport, which serves as one of southern India’s key transport hubs. According to the statement, Kurian had earlier met Railway Minister Ashwini Vaishnaw, who assured him that the project would be expedited. The plan gathered momentum following Vaishnaw’s visit last ..