Jindal Stainless plans to invest Rs 100 crore in Rathi Super Steel

18 Sep 2023 , 11:30 AM

Jindal Stainless Ltd intends to invest Rs 100 crore in Rathi Super Steel over the next two years as it seeks to expand its infrastructure offerings in the medium term.

Earlier this year, Jindal Stainless purchased debt-ridden Rathi Super Steel for approximately Rs 200 crore through the debt resolution procedure.

It intends to boost Rathi Super Steel’s annual production capacity from 150,000 tonnes to roughly 200,000 tonnes.

Only roughly 2-5% of Jindal Stainless’ present product portfolio is suitable for usage in the infrastructure sector. It intends to grow this to 15-20% over the next two to three years in order to establish itself as a key player in this field.

Traditionally, the company has relied mostly on flat stainless-steel items, but the infrastructure section relies on lengthy products such as wire rods, bars, and re-bars.

The Rs 100-crore investment in Rathi Super Steel would be utilized to expand capacity and improve plant quality, making it more adaptable to products required in the infrastructure sector.

Jindal Stainless plans to manufacture bars and re-bars at the plant, which will be used in trains, bridges, and infrastructure projects, particularly in coastal areas.

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