Indian company Jindal Stainless Limited (JSL) is investing about $94 million to increase its cold rolling capacity to meet the growing demand for products in sectors such as automotive, home appliance manufacturing and food processing, the company's managing director Abhyudey Jindal said in a statement to shareholders on Monday, August 17..
Mr. Jindal announced that the investment will increase the company's cold rolling capacity from 2.05 million tons per year to 2.67 million tons per year and will be completed by the end of fiscal year 2027-28.
Investments will be directed to the JSL plants in Hisar and Kharagpur, as well as new hot-rolled annealing, etching and cold rolling workshops in Jaipur, which will increase production- a combination of advantages for the automotive industry, household appliances, food processing and industrial applications, Jindal said..
JSL is also in the process of seeking land in the western state of Maharashtra, with plans to build a new $4.18 billion stainless steel plant to produce specialized grades of steel for mission-critical applications in emerging industries such as hydrogen, nuclear energy, defense, mobility, infrastructure, and the processing industry.
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