Jindal Stainless to Double Odisha Plant Capacity
Business Standard reported that post the merger of Jindal Stainless (Hisar) Limited with Jindal Stainless Limited, the company has chalked out a CAPEX
Business Standard reported that post the merger of Jindal Stainless (Hisar) Limited with Jindal Stainless Limited, the company has chalked out a CAPEX plan to cash on the strong demand visibility in the domestic market. Jindal Stainless Managing Director Mr Abhyuday Jindal told Business Standard “We have a CAPEX plan of INR 2,000-3,000 crore for the next 2-3 year as we look to double the capacity at our Odisha plant. The entire CAPEX will be funded via internal accruals.”
Mr Jindal added “For the last few years, we focused on improving our supply chain. It was becoming difficult to play on cost in the last few years due to cheap imports hitting the market, so we had to focus on logistics, last mile delivery and other supply chain parts. But now it is the right time to look at capacity expansion since demand is up.”
Currently, Jindal Stainless' Odisha plant has a capacity of 1.1 million tonne, while its Hisar plant is a 0.8 million tonne. The company’s Odisha plant caters to volume-oriented sectors such as infrastructure, railway and auto, while its Hisar plant is mainly into niche stainless steel products.