Jindal Steel plans to invest $2.4 billion in next six years

Steel manufacturing major Jindal Steel & Power Ltd is planning to spend $2.4 billion for the next six years to increase capacity.

The New Delhi-based company said in an investor presentation on Tuesday that the steelmaker intends to increase overall crude steel capacity from 8.6 million tons to 15.9 million tonnes (mt)by March 2025. It also said that the investment also includes plans to more than double pellet production capacity to 21 mt by 2024.

The once India’s biggest steel maker by market value, Naveen Jindal-led mill, is ready to make new investments for development and growth after aggressively decreasing its levels of debt by more than 60% since 2018.

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