Tata Steel Market: Under the stewardship of T.V. Narendran, Tata Steel is making all the right moves in the domestic steel market. Owners of Bhushan Steel visited Tata Steel’s Jamshedpur plant in the past and replicated most of it at their Angul plant housed in Odisha
Post the merger of Jindal Stainless (Hisar) Limited with Jindal Stainless Limited, the company has chalked out a capex plan to cash on the strong demand visibility in the domestic market. “We have a capex plan of Rs 2,000-3,000 crore for the next 2-3 year as we look to double the capacity at our Odisha plant. The entire capex will be funded via internal accruals,” Abhyuday Jindal, managing director of Jindal Stainless told Business Standard. Currently, Jindal Stainless Odisha plant has a capacity of 1.1 million tonne, while its Hisar plant is a 0.8 million tonne specialised product division. “For the last few years, we focused on improving our supply chain. It was becoming difficult to play on cost in the last few years due to cheap imports hitting the market, so we had to focus on logistics, last mile delivery and other supply chain parts. But now it is the right time to look at capacity expansion since demand is up,” said Jindal.