Jindal Stainless plans to increase capacity and exports
Indian company Jindal Stainless Steel is reportedly planning an expansion project for the purpose to increase its capacity as well as to benefit from rising stainless steel demand worldwide. With this project worth Rupees 3.5 billion (around $76 million), the annual melting capacity is aimed to reach 500'000 tons by 2004-2005. A new power plant is planned to start operating within a year. Also, the company has been carrying on another expansion plan for its hot rolling capacity, which will result in improved product quality and higher coil weight processing with 15 tons. Besides, export, particularly to East Asia, is another target focused on as company's exports in the first six months of the year account for 46% of the total turnover.