Jindal Steel & Power Ltd in an investor presentation announced a round of growth CAPEX to propel its steel capacity from 8.6 million tonnes to 15.9 million tonnes through brownfield expansion. The 6.3 million tonnes expansion is proposed at a modest CAPEX of approximately USD 390 per tonne, among the lowest in the industry, driven by its Blast Furnace and Electric Arc Furnace.FY22- Angul CTO (1 million tonne per annum)FY24 -Angul Phase II (3.3 million tonne per annum BOF)FY25 - Angul Phase II (3 million tonne per annum EAF) The expansion also includes investment in cost saving projects like pellet plant, slurry pipeline, etc. JSPL plans to add 12 million tonne per annum iron ore pellet capacity at Angul, to increase total capacity at Barbil & Angul to 21 million tonnesFY23 - Angul Phase-II (6 million tonne per annum)FY24 - Angul Phase-II (6 million tonne per annum) The projects, which are expected to increase steel capacity by 66% and pellet by 133% will be commissioned in a modular fashion, thereby largely self-funding the cash flow needed for the CAPEX The company had said in May this year that it was in the process of drastically cutting down its debt while going for a new capital expenditure cycle. JSPL's consolidated net debt declined to INR 15,227 crore in Q1of 2021-22 from INR 22,146 crore in March 2021. The company's net debt also reduced by 32% from 2019-20 to 2020-21 and has narrowed to 64% on a consolidated basis since 2017-18.