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Jindal Stainless Steel to commission new plant for long products
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SME Times News Bureau | 11 Oct, 2018
Stainless steel major Jindal Stainless Steel (Hisar) Ltd will soon
commission its 50,000 tonne per annum (tpa) long products plant, said a
senior official in the group on Wednesday.
He said Jindal Stainless was planning to triple its share in the kitchenware/hollowware segment.
"The
stainless steel long and flat products go hand-in-hand. The entry into
long products is part of our diversification. Further, the distribution
channel for both stainless steel long and flat products are the same,"
Vijay Sharma, Senior Vice President, Head-Sales and Distribution
(Domestic and Exports), told the media.
The plant for stainless
steel long products is being set up at Hisar where the company has its
stainless steel flat products production facility, he said.
"The
long products plant will be ready for operation by the end of this
fiscal. The investment for the new plant is about Rs 40 crore," Sharma
said.
On plans for kitchenware industry, Sharma said the group
led the industry with the introduction of 200 series and will transform
the industry by introducing high quality chrome-manganese product
through the coil route.
He said usage of stainless steel coil by
the kitchenware makers would involve increased automation and increased
share of the organised segment in the market.
"We intend to triple our share in the next two years," Sharma said.
The
market size of Indian stainless steel flat products is estimated to be
25 lakh tonnes per annum which is growing at a steady rate of 9-10 per
cent per annum.
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