JSHL commissions 26,000-tonne precision strip mill in Hisar

Jindal Stainless (Hisar) Limited (JSHL) on Wednesday said it has commissioned a precision strip mill having a capacity of 26,000 tonnes per annum at its plant in Hisar.
In July, JSL had announced investing Rs 450 crore for expansion of its Specialty Products Division (SPD), of which Rs 250 crore was to be utilised towards scaling up precision strip manufacturing capacity.

"JSHL today commissioned 26,000 TPA capacity precision strip mill as part of the first phase of its latest brownfield expansion plan," the company said in a statement.

The commissioning of the mill has increased the company's total precision strip production capacity to 48,000 TPA from the existing 22,000 TPA.

JSHL's plan is to take this capacity to 60,000 TPA to increase its presence in segments like auto, process industry, and oil and petrochemicals, among others.

JSHL Managing Director Abhyuday Jindal said the latest capacity addition to specialty products division portfolio will strengthen its product mix in the value-added segment and double the company's share in the global production to 8 per cent.

"The capacity enhancement is also expected to boost JSHL's revenues by 8-10 per cent. Over the next two years, the planned SPD expansion will also enable us to foray into new export markets with an expanded range of product offerings," he added.

According to the statement, the company will also augment its blade steel capacity to 24,000 TPA from the existing 14,000 TPA over a period of two years with an estimated investment of Rs 200 crore.