Jindal Steel plans $2.4 bn investments to improve demand prospects
Steel

Jindal Steel plans $2.4 bn investments to improve demand prospects

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

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

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?