Jindal Steel and Power Ltd hopes to double its steel production capacity to 10 million tonnes in three years at an estimated investment of Rs 20,000 crore.
Focus would also be on coming up with niche offerings with higher margins such as head-hardened rails (used in Metro project) and so on.
The company's current facilities are spread across Raigarh in Chhattisgarh (1 million tonne), Angal in Odisha (2.5 million tonne) and Oman in West Asia (2 million tonne).
According to V.K. Mehta, Director (Sales and Marketing), JSPL, the company will add 3.5 million tonnes per annum to its existing facility at Angal.
Another one million tonne would be added to the Chhattisgarh unit through operational efficiencies.
“Nearly 90 per cent of our new investments would be in Angal unit and some into the Raigarh facility,” he told reporters on the sidelines of the launch of the company’s new retail brand --Jindal Panther--in the city.