PSU Watch logo

| Board approves merger of Lanco Teesta Hydro Power with NHPC |   | Power Ministry approves 23 new ISTS projects worth Rs 15,893 crore for RE projects |   | No plan to privatise existing coal mines, says Pralhad Joshi |   | RBI maintains India's FY22 GDP growth projection at 9.5% |   | Coal shortage cripples non-power sector as supplies to power sector prioritised |   | RBI to develop UPI for feature phones to boost digital payments |  

JSHL commissions phase-I of brownfield expansion at specialty products division

This brownfield expansion will give a thrust to India's transformation into a hub of value-added and specialized product manufacturing
JSHL commissions phase-I of brownfield expansion at specialty products division
JSHL commissions phase-I of brownfield expansion at specialty products division

New Delhi/Hisar: Jindal Stainless (Hisar) Limited (JSHL) on Wednesday commissioned the 26,000 tonnes per annum (TPA) capacity Precision Strip Mill as part of the first phase of its latest brownfield expansion plan at its state-of-the-art Specialty Products Division (SPD). This capacity expansion takes the total precision strip production capacity to 48,000 TPA from the existing 22,000 TPA. The capacity expansion of precision strips will further strengthen the Company’s presence in segments like auto, process industry, and oil and petrochemical, and will be augmenting supplies to aerospace and electric vehicles.

The capacity expansion at SPD is part of the company’s plan to leverage its leadership position in speciality and value-added products. After this expansion, the operational capability will expand and products up to 650 mm width would be manufactured. This expansion will further help the Company consolidate its leadership position in the international market.

Commenting on the commissioning of Phase I of expansion, JSHL's Managing Director Abhyuday Jindal said, “The latest capacity addition to JSHL’s Specialty Products Division portfolio will strengthen our product mix in the value-added segment and double our share in the global production to 8 percent. The capacity enhancement is expected to boost JSHL’s revenues by 8-10 percent. Over the next two years, the planned SPD expansion will also enable us to foray into new export markets with an expanded range of product offerings.”

ALSO READ

The total CapEx for brownfield expansion is estimated at Rs 450 crore over the next two years. As part of the expansion of SPD, JSHL will increase its total precision strip capacity to 60,000 tonnes per annum by the end of Q2FY23 with an estimated CapEx of INR 250 crore. To expand its market outreach, the Company will also augment its blade steel capacity to 24,000 TPA from the existing 14,000 TPA over a period of two years with an estimated total CapEx of INR 200 crore. JSHL is among the world’s leading razor blade steel producers and supplies to global brands in this space. The plant is equipped to produce blade steel in thickness as low as 0.07mm; nearly 20 billion blades are made out of Company’s blade steel every year.

JSHL is also renowned for its world-class coin blank production facility and supplies coin blanks to Indian mint and international mints, such as Monnaie de Paris (France), Royal Canadian Mint, Mincovňa Kremnica (Slovak Republic), Royal Dutch Mint (Netherlands), The Royal Mint (UK), and Mint of Finland Ltd. (Finland), among others.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)