India’s Jindal Stainless Hisar Limited (JSHL) has commissioned a new 26,000 mt per year capacity ‘precision steel strip mill’ as part of its first phase brownfield expansion, a company statement said on Thursday, October 21.
The company said that the commissioning of the new mill will take JSHL’s total precision strip producing capacity to 48,000 mt per year.
JSHL has earmarked a total capital expenditure to the tune of $60 million over the next two years, aimed at taking its total precision strip manufacturing capacity to 60,000 mt per year.
In the statement, the company said that increasing precision strip capacity will deepen the company’s market penetration in sectors like automobile, process industry, aerospace and electric vehicles.
“Following the expansion of precision strip, it will double JSHL’s share in global production to eight percent and accrue incremental revenues of 8-10 percent,” company CEO Abhyuday Jindal said.