Jindal Steel & Power to expand capacity
Indian steel producer Jindal Steel & Power announced that its Board of Directors approved a Rupees 14.5 billion ($331 million) expansion plan. In line with the expansion plan, Rupees 1.5 billion ($34 million) will go towards increasing its steel melting shop capacity. The existing rail and structural mill will also be upgraded at a cost of Rupees 3.5 billion ($80 million). Moreover, the company will invest Rupees 5.5 billion ($125 million) to build a plate mill, while Rupees 4 billion ($91 million) will be spent to establish a 75 MW power plant.