BS reported that JSL Ltd, formerly Jindal Stainless Ltd, will invest INR 6000 crore to INR 7000 crore on scaling up the capacity of its steel plant at Kalinga Nagar in Orissa from 1 million tonne per annum to 3.2 million tonne per annum. The steel maker hopes to achieve the expanded capacity within four years.

Mr Ratan Jindal vice CMD of JSL Ltd after meeting the state chief secretary Mr BK Patnaik told media persons that "We have achieved capacity of 1 million tonne per annum of stainless steel production at our Orissa plant and we are going to ramp it up to 3.2 million tonne per annum in four years. The capacity expansion will involve an additional investment of INR 6000 crore to INR 7000 crore.”

Mr Jindal said that the company’s ferrochrome production has taken a big hit due to sharp increase in the prices of chrome ore, a key raw material for making of ferrochrome.

JSL, which currently buys ore from the state government owned Orissa Mining Corporation to cater to the requirement of its Kalinga Nagar plant, has given a proposal to the state government to link chrome ore prices with that of chromium metal.

(Sourced from BS)