Jindal Steel to increase capacity 52%

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.