Jindal Steel to step into container manufacturing
WAREHOUSING & LOGISTICS

Jindal Steel to step into container manufacturing

Indian steel major, Jindal Steel & Power Ltd (JSPL), will soon enter the container manufacturing business and is setting up a manufacturing facility in either Chattisgarh or Odisha.

Earlier, Hyundai, Balmer Lawrie, and Nathani were among the few manufacturers in India. After China started producing containers at a much competitive price of Rs 72,907 per unit against Rs 132,232-Rs 145,895 per unit manufactured domestically, these players went out of business.

Currently, India sources its entire container needs from China at Rs 239,760-Rs 454,545 per container. Last week, the firm reported a consolidated net profit of Rs 2,566 crore in the December quarter against a loss of Rs 218.57 crore in the same period last year on the back of increased revenues.

The top line stood at Rs 10,533 crore in the period under review, up 40% from the same period last year due to increased volumes as well as realisations.

Consolidated earnings before interest, taxes, depreciation and amortisation (Ebitda) in the December quarter stood at Rs 4,252 crore against Rs 1,574 crore in the corresponding period last year.

The Ministry of Ports, Shipping and Waterways (MoPSW) recently formed a committee to examine the viability of making containers at Bhavnagar in Gujarat and developing it into a manufacturing hub. At present, India has no container manufacturers.

In the last few months, an uneven import-export scenario for India has led to a severe shortage of container boxes pushing costs higher. After Chinese imports came under scanner and bans were imposed, there has been a severe shortage of containers in the domestic market.

Indian steel major, Jindal Steel & Power Ltd (JSPL), will soon enter the container manufacturing business and is setting up a manufacturing facility in either Chattisgarh or Odisha.Earlier, Hyundai, Balmer Lawrie, and Nathani were among the few manufacturers in India. After China started producing containers at a much competitive price of Rs 72,907 per unit against Rs 132,232-Rs 145,895 per unit manufactured domestically, these players went out of business. Currently, India sources its entire container needs from China at Rs 239,760-Rs 454,545 per container. Last week, the firm reported a consolidated net profit of Rs 2,566 crore in the December quarter against a loss of Rs 218.57 crore in the same period last year on the back of increased revenues. The top line stood at Rs 10,533 crore in the period under review, up 40% from the same period last year due to increased volumes as well as realisations. Consolidated earnings before interest, taxes, depreciation and amortisation (Ebitda) in the December quarter stood at Rs 4,252 crore against Rs 1,574 crore in the corresponding period last year. The Ministry of Ports, Shipping and Waterways (MoPSW) recently formed a committee to examine the viability of making containers at Bhavnagar in Gujarat and developing it into a manufacturing hub. At present, India has no container manufacturers. In the last few months, an uneven import-export scenario for India has led to a severe shortage of container boxes pushing costs higher. After Chinese imports came under scanner and bans were imposed, there has been a severe shortage of containers in the domestic market.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Hexalog Appoints Vishal Shukla as Chief Transformation Officer

Hexalog, a cross-border supply chain and logistics company, has appointed Vishal Shukla as Chief Transformation Officer (CTO) to lead its operational transformation, technology adoption and expansion into new international markets.In his new role, Shukla will oversee the company's transformation strategy across operations, technology, product development and business expansion. His responsibilities include standardising processes, developing scalable operating models, strengthening existing trade corridors and introducing new fulfilment solutions for cross-border businesses.Shukla brings nearl..

Next Story
Real Estate

Dhuleva Group Awards 80-Storey Tower Contract to Eversendai

Dhuleva Group has awarded the core and shell structural construction contract for Dhuleva One50, an upcoming 80-storey ultra-luxury residential tower in South Mumbai, to Malaysia-based engineering and construction company Eversendai.Located near the Babulnath district, the development is planned as a high-rise residential landmark offering panoramic views of the Arabian Sea and Mumbai's skyline. The project will combine contemporary architecture with advanced engineering and premium residential facilities.Eversendai will undertake the structural construction works, drawing on its experience in..

Next Story
Building Material

Nuvoco Marks 10 Years, Targets 35 MMTPA Capacity by FY28

Nuvoco Vistas Corporation Limited is celebrating a decade of operations under the theme ‘Dus Saal Bemisaal’, highlighting its expansion in India's building materials sector. The company has grown from a single cement manufacturing facility into a diversified organisation operating across cement, ready-mix concrete (RMC) and modern building materials.The company's journey began in 2014 when its parent, Nirma Group, commissioned a 2 million metric tonnes per annum (MMTPA) greenfield cement plant at Nimbol, Rajasthan. A major milestone followed in October 2016 with the acquisition of Lafarge ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code