Jindal Stainless to invest in Asia

Jindal Stainless to invest in Asia

Indian steel producer Jindal Stainless is planning to invest in Taiwan, Vietnam and Thailand to increase its cold rolling capacity. As previously reported by SteelOrbis, Jindal acquired a cold rolling mill in Indonesia for $30 million in 2004. The planned investments in the above cited countries will reportedly be larger. Jindal produces 750'000 tons of hot rolled stainless steel and 100'000 tons of value added cold rolled steel at Hisar per annum. The company plans to increase its cold rolled steel production at Hisar to 200'000 tons. The capacity of the mill in Indonesia is currently 50'000 tons. This figure is planned to be increased to 120'000 tons. However in order to fill the gap between cold rolled and hot rolled capacity, the company needs to producer a further 430'000 tons of cold rolled steel. This figure is planned to be achieved through the investments in East Asia.