JSW Steel has planned fresh investment in adding tinplate capacity, which may help them grow their legacy even more.
In the last financial year, JSW Steel spent ₹575 crore in building a 2.5-lakh-tonne tinplate mill with related facilities at its Tarapur unit. The company has decided to set up another mill of similar capacity at an estimated cost of ₹419 crore at the same location, JSW Steel said in its annual note to shareholders. It cited increasing demand for the sheet, used for making packaging material and other products, for adding capacity.
The proposed mill, when commissioned, will take JSW Steel’s tinplate capacity to six lakh tonnes a year, including one lakh tonnes from its 50% ownership in Punjab-based Vallabh Tinplate.
JSW Steel has not mentioned a timeline for commissioning the mill. Tata Steel’s Tinplate Company, with a capacity of 3.8 lakh tonnes per annum, had also said it was working on various growth options that needed to be finalised.
Source- economic times