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Jindal Stainless chalks out Rs 2,000-3,000 cr capex plan

Monday, 08 Feb 2021
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Post the merger of Jindal Stainless (Hisar) with Jindal Stainless, the company has chalked out a capex plan to cash on the strong demand visibility in the domestic market.
The company has a capex plan of Rs 2,000-3,000 crore for the next two-three years as it looks to double the capacity at its Odisha plant. The entire capex will be funded via internal accruals.
Currently, Jindal Stainless' Odisha plant has a capacity of 1.1 million tonne, while its Hisar plant is 0.8 million tonne specialised product division.
The company’s Odisha plant caters to volume-oriented sectors such as infrastructure, railway and auto, while its Hisar plant is mainly into niche stainless steel products.
The company’s funding for capex via the internal accrual is spread over 14-18 months.
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