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

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

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

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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code