Construction Industry News
Jindal Stainless recently expanded from 1.9 million tons per year (mtpa) to 2.9 mtpa, a capacity expansion that makes it among the top five stainless steel manufacturers in the world, excluding China. This expansion project - mainly brownfield in nature - required an estimated capital expenditure of around Rs 2,600 crore, with the company having already invested in infrastructure and basic technology. Abhyuday Jindal, Managing Director, shares more about the company's and industry's plans and prospects.
He adds: "The timing of our expansion was opportune, given the strong demand for stainless steel, both nationally and internationally. We have also been in a healthy financial position, with our net debt/EBITDA for FY23 at 0.7, one of the best by industry standards. Currently, our melting capacity in Hisar and Jajpur is 0.8 mtpa and 2.1 mtpa respectively. However, capacity at Jajpur can be further scaled up thanks to the land bank; Up to 3.2 mTPA with minimal additional investment. We will focus on stabilizing the current expansion in the coming years."
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