India-based Jindal Stainless Ltd (JSL) and Spain-based Acerinox Group have revealed plans to invest more than USD 1.7 billion between them to expand their stainless steel operations. JSL intends to invest an additional USD 1.14 billion to double capacity to 1.6mt/y at its planned mill in the Jaipur district of Orissa state, eastern India. The company signed a Memorandum of Understanding in 2005 to build a fully integrated steel mill in the state, including an 800,000t/y stainless melting capacity, by 2008. The further 800,000t/y is now to be commissioned by 2010. JSL expects to start two 125MW power plants by June 2007. Acerinox says it will spend USD 568 million to raise melting shop capacity to 3.5mt/y. Flat products’ capacity will go up to 3mt/y, with cold rolled products accounting for around 2mt/y of that, while long products capacity will increase to 400,000t/y. The expansion work is scheduled to be completed by the end of 2008.
