Project News Detail
| Project No : | 202850 |
|---|---|
| Project Title : | JSL Chalks Out Rs 5,400-Cr Expansion-Led Investment Plan. |
| Company Name : | Jindal Stainless Limited |
| Project Detail : | Jindal Stainless (JSL) has announced a Rs 5,400 crore investment plan towards expanding its capacity by 1.2 million tonne per annum (MTPA) to 4.2 MTPA. The strategy includes taking over Chinese stake in a Gujarat-based steel mill and expanding its own capacity in Jajpur, Odisha. JSL's Singapore based subsidiary has entered into a joint venture (JV) with Zenith International Capital in Indonesia for developing, operating a stainless steel melt shop (SMS) with an annual production capacity of 1.2 MTPA. The Indonesian JV will provide the company with raw material security, and the augmentation of the Jajpur lines will offer enhanced value for domestic and export customers. The cold rolling mill at Chromeni will expand its outreach, both in India as well as abroad, and boost presence in the value-added segment in the long term. The company plans to fund the capacity addition through a mix of internal accruals and debt. The SMS will help to increase the company’s melting capacity by over 40 percent to 4.2 MTPA at Rs 700-crore outlay. Jindal Stainless' Singapore based subsidiary which will enter into joint venture (JV) with Zenith International Capital, to operate the SMS in Indonesia. JSL will acquire a 54 percent equity stake of Tsingshan Holdings in Chromeni Steels (CSPL), which owns a 0.6 MTPA cold rolling mill in Mundra, Gujarat. This will be through a Rs 1,340 crore structured indirect acquisition deal deal which comprises takeover of existing debt of Rs 1,295 crore and balance of Rs 45 crore towards equity purchase. CSPL will be resume operations with an investment of around Rs 100-crore. In addition to these, JSL plans to invest Rs 1,900 crore for the expansion of its downstream lines in Jajpur, Odisha for an increase in melting capacity. Besides, the company also allocated Rs 1,450 crore towards the associated upgradation of infrastructural facilities, such as railway siding, sustainability-related projects, and RE generation. |
| Project Location : | Multi Location (Multi State) - Multi State - India |
| Project Estimation : | Refer Document |
| Status : | Announced |