JSPL plans to invest an additional Rs 20,000 cr in Jharkhand plant

During the Momentum Jharkhand Global Investors' Summit 2017, the Chairman of Jindal Steel and Power (JSPL), Naveen Jindal announced that the company will be investing an additional amount of Rs 20,000 crore in Jharkhand in the coming years. Meanwhile, the company has already invested Rs 3,000 crore in the state till date. 

Naveen Jindal emphasised on the rich mineral resources of the state but also pointed out the drawbacks the state has to face due to its political instability. However, he added that it is now on the path to development. 

JSPL is planning to increase the production capacity from 1.6 million tonnes per annum (MTPA) to 6 million tonnes at their steel plant at Patratu (Jharkhand). The Patratu steel manufacturing facility has a total finished steel capacity of 1.6 MTPA. JSPL operates a wire rod mill (0.6 MTPA) and a bar rod mill (1 MTPA) along with a rebar service centre. 

In a period of one year, the stocks of JSPL has delivered 56.47 per cent, outperforming the BSE Mid-cap index and underperforming the BSE Metal index in the same time frame.