Now Reading: Jindal Steel targets 21 mt by 2032, MD seeks stability
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Jindal Steel targets 21 mt by 2032, MD seeks stability
Jindal Steel managing director V.R. Sharma said the company plans to expand steelmaking capacity to about 21 million tonnes by 2032, prioritising specialised grades over volume. The firm currently has 15.6 mtpa…
The Story in Brief
Jindal Steel managing director V.R. Sharma said the company plans to expand steelmaking capacity to about 21 million tonnes by 2032, prioritising specialised grades over volume. The firm currently has 15.6 mtpa capacity, with only 12 mt operational. Sharma emphasised a measured, profitable approach, contrasting with rival JSW Steel's target of 80 mt.
Sharma also aims to build leadership stability by promoting internal talent from a pool of 2,000 employees. Jindal Steel is cautious on captive mine acquisitions, willing to source all iron ore from the market. The company is unfazed by the EU carbon tax as its electric arc furnaces emit 1 tonne of CO2 per tonne of steel, below the 1.3 tonne benchmark.
The Indian Opinion
The narrative that Indian steelmakers must chase ever-larger capacity is being challenged by Jindal Steel's measured plan. While rivals JSW and Tata secure captive mines for raw-material security, Jindal's willingness to buy from the market could prove risky if premiums rise. Its bet on specialised steel and internal leadership is sensible, but can it match the scale advantages of peers? The real test will be whether its niche focus delivers margins high enough to fund the 21 mt expansion without debt.
Source: livemint.com
This story was synthesised by AI from the source linked above.
