Jindal Stainless to invest Rs 5,400 crore in capacity expansion and acquisitions

Jindal Stainless Ltd announced a Rs 5,400 crore investment plan including: Rs 3,350 crore for downstream expansion and infrastructure at Jajpur, Odisha; Rs 700 crore for a 49% stake in a stainless steel melt shop JV in Indonesia (1.2 MTPA); and Rs 1,340 crore for a 54% stake in Chromeni Steels Pvt Ltd (0.6 MTPA cold rolling mill in Mundra, Gujarat).

“The Indonesian JV will get us the best of speed and raw material security, and the augmentation of the Jajpur lines will offer enhanced value for domestic and export customers.”ndtvprofit.com

• 3 sources
• ndtvprofit.comJindal Stainless To Invest Rs 5,400 Crore In Acquisitions, Capacity ExpansionRishabh BhatnagarMay 1, 2024
• timesofindia.indiatimes.comJindal Stainless to invest Rs 5,400 crore to expand capacity to 4.2 MT: Abhyuday Jindal - Times of IndiaPTIMay 1, 2024
• indianeconomicobserver.comJindal Stainless announces Rs 5,400 crore strategic investments aimed at expanding capacityMay 1, 2024

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