Jindal Steel plans to complete the new plant in Karnataka that can produce steel for automobile industry by December. The company is investing $1 billion on the plant.
JSW Chairman and Managing Director Sajjan Jindal said that the plant has a potential to generate $2-billion revenue in two years when it achieves a full capacity of 2.3 million tonnes. In the first year, the company expects to generate $1 billion.
Earlier, the company said that the plant will be ready in August. The plant helps automobile firms to do away with imports. Imports are put at $800-$1,000 a tonne.