Jindal Steel plans to double the annual manufacturing capacity of structural steel at its Raigarh facility to 2.4 million tonnes. The company announced an expasion plan on Monday through BSE release. At present, the Naveen Jindal Group company has a structural steel capacity of 1.2 MTPA at the facility.
Capacity to rise to 2.4 million tonnes per annum
In a statement, the Naveen Jindal Group company said, “The company will double its existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028”.
“The expansion will substantially enhance the availability of heavy and ultra-heavy structural steel sections in India and reinforce Jindal Steel’s leadership in the structural steel segment,” the company added in its release.
Steel structurals, due to their high strength, durability, and ductility, are of huge importance for infrastructure projects like bridges, towers and large buildings — which are seeing a push led by various government-led schemes and private investments.
New mill and technology upgrades planned
As part of the expansion, integrated steel producers, Jindal Steel said it will commission a new, dedicated structural steel mill, alongside advanced upstream and downstream technology upgrades.
Expansion to ultra-heavy structural sections
The company manufactures parallel flange sections ranging from 100 mm to 900 mm, with sectional weights of up to 333 kg per metre.
With the ongoing expansion, production capability will extend to ultra-heavy sections reaching 1,100 mm depth and 1,500 kg per metre.
The company did not disclose the value of the expansion plan.
Jindal Steel Operates on a robust mine-to-metal model and runs state-of-the-art facilities in Angul, Raigarh, and Patratu, and maintains strategic operations across India and Africa
Share price of Jindal Steel
The share price of Jindal Steel touched an intra-day high of Rs 1,010.00 in Monday’s trade. The stock has gained 5.55% in past six months and on year-to-date (YTD) basis, the stock has gained 5.95% so far this year.