Jindal Steel on the path of expansion

Jindal Stainless Steel’s Rs 350-crore upgrade is expected to raise its existing melting capacity to five lakh tonne per annum by 2004–05, besides enabling it to manufacture value-added cupro nickel coins for mint. A new 12 MW power plan for captive consumption is also expected to become operational within a year reported a leading business daily. Apart from moving up the value chain, the company is also focusing on export, especially, in East Asia. The company is setting up an additional oxygen plant in its Hisar plant for self-sustenance of gases with increased level of production. Jindal Stainless director (finance) Arvind Parakh said that the growth opportunity in sectors like the railways, auto and white goods is very high. The company was also upgrading its hot rolling capacity for improving the quality of products and processing coils of more weight of up to 15 tonne from the existing 7–8 tonnes, he added.

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