Jindal Steel to increase capacity 52%
Indian steel producer
Jindal Iron & Steel Co Ltd announced its plans to increase annual
production capacity by 52% to 3.8 million tons from the current 2.5 million-ton capacity in order to meet strong domestic demand.
Jindal officials stated that demand for steel is strong and seems to remain strong for the next 2-3 years.
The expansion project has started and is scheduled to be completed by March 2006. The cost of the expansion project is expected to be around Rupees 12.75 billion ($291 million).
2.5 million tons of the targeted capacity will be hot rolled coils and the remaining 1.3 million tons will be steel slabs.