Ranchi: Jindal Steel and Power Ltd (JSPL) will invest Rs 20,000 crore in Jharkhand within a few years in addition to Rs 3,000 crore it has already invested in the state, company’s Chairman Naveen Jindal said on Thursday.
“We will take the capacity of our steel plant at Patratu here to 6 million tonnes from the present 1.6 million tonnes per annum,” Jindal said while addressing the Momentum Jharkhand Global Investors’ Summit 2017 at Khelgaon.
Jindal observed that Jharkhand is endowed with rich mineral resources but had suffered political instability and that it is now on the path to development.
JSPL s Patratu manufacturing facility has a total finished steel capacity of 1.6 MTPA. The company operates a Bar Rod Mill (1MTPA) and a Wire Rod Mill (0.6 MTPA) along with a rebar service centre.
These mills are equipped with the latest state-of-the-art technology to offer advanced quality products like Wire Rods, TMT Rebars, Rounds, Angles, and ready-to-use products like Weld Mesh, Cut and Bend Rebars.
Speaking on the sidelines of the event, Jindal said that the company is looking at fully integrating its Patratu plant.
On increasing expansions, he said that the company has invested around Rs 75,000 crore in the country in the past 15 years, and the focus going forward would be on completing the projects which were undertaken.