JSL keen on ₹40K cr investment in Maharashtra, looking for land parcel: MD

Jindal Stainless Limited (JSL) is eyeing a significant expansion in Maharashtra, with plans to invest ₹40,000 crore, according to its Managing Director. The company is actively seeking a suitable land parcel to facilitate this ambitious project. This move aligns with JSL's broader strategy to enhance its production capabilities and strengthen its footprint in India's growing stainless steel industry. Currently, JSL operates with a combined capacity of 3 million tonnes per annum across its plants in Hisar, Haryana, and Jajpur, Odisha. The proposed investment in Maharashtra signals JSL's intent to diversify geographically and tap into new markets. This expansion is expected to bolster the company's capacity significantly and cater to the increasing demand for stainless steel in various sectors. Maharashtra, with its strategic location and robust industrial infrastructure, presents an attractive opportunity for JSL's expansion. The investment is anticipated to generate substantial employment opportunities and contribute to the state's economic growth. As JSL progresses in identifying the right land parcel, this development marks a pivotal step in the company's long-term growth trajectory.

— Authored by Next24 Live