JISCO makes investment to increase its capacity

JISCO makes investment to increase its capacity

According to recent market news, Jindal Iron & Steel Corp (JISCO) plans to expand its annual capacity with an investment of Rupees 5 billion (approx. $110 million). Hot rolled coil capacity will be expanded to 2.5 million tons from the current annual capacity of 2 million tons, for which the agreement signed with an UK based company Euro Icon with the aim of supplying a blast furnace will be helpful. Furthermore, the annual capacity of cold rolling and galvanizing mills will be expanded by 1 million tons, totalling 6 million tons per annum. The officials of the company state that 70% of EBITDA will be used to pay the debts, adding that the company will be a free-debt company in a short time interval.