Jindal Steel plans to invest $2.4 billion in next six years

27 Aug 2021 CW Team

Steel manufacturing major Jindal Steel & Power Ltd is planning to spend $2.4 billion for the next six years to increase capacity.

The New Delhi-based company said in an investor presentation on Tuesday that the steelmaker intends to increase overall crude steel capacity from 8.6 million tons to 15.9 million tonnes (mt)by March 2025. It also said that the investment also includes plans to more than double pellet production capacity to 21 mt by 2024.

The once India’s biggest steel maker by market value, Naveen Jindal-led mill, is ready to make new investments for development and growth after aggressively decreasing its levels of debt by more than 60% since 2018.

The plan of expansion is driven by expectations of vigorous consumption as India aims to spend Rs 100 trillion in infrastructure to boost economic growth and create jobs.

The rivals ArcelorMittal Nippon Steel India Ltd. and Tata Steel Ltd, a joint venture between ArcelorMittal SA and Nippon Steel Corp, have already declared plans to more than double capacity, captivated by strong demand prospects. As estimated by Jindal Steel, the annual demand will recover from Covid-induced disruptions and grow 8% to 9% by 2025.

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

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..