Haryana: Jindal Stainless mulls to invest Rs 6,000 crore over the next two years to expand its manufacturing capacity. The bulk of this investment will be made in the phase-II development of its stainless steel plant in Jajpur, Orissa. They will invest about Rs 5,600 crore for setting up capacity of 8 lakh tonnes per annum of steel in Jajpur. The plant will be commissioned by 2012. The company will borrow Rs 3,200 crore from Indian and foreign banks for the project, while Rs 1,000 crore will be raised via external commercial borrowings. Another Rs 1,200 crore will be infused via internal accruals. The promoters will invest equity of the balance amount of Rs 200 crore. The investment in Hissar plant will be made mainly via internal accruals. With new capacity being planned in two phases of 0.8 million tonnes each in Orissa, the total capacity of the company will be 2.5 million tonnes by 2012, making Jindal one of the largest integrated stainless steel manufacturers in the world.
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