JSW Steel has planned fresh investment of Rs 419 crore to increase its tinplate capacity. This is expected to help it overtake Tata Steel that has controlled the market for nearly a century through its subsidiary, Tinplate Company of India.
According to an ET report, in the last financial year, JSW Steel spent Rs 575 crore in building a 2.5-lakh-tonne tinplate mill with related facilities at its Tarapur unit.
In its annual report, JSW Steel said it has decided to set up another mill of similar capacity at an estimated cost of Rs 419 crore at the same location.
The company cited increasing demand for the sheet, used for making packaging material and other products, for adding capacity.
Once it is commissioned, the proposed mill will take JSW Steel’s tinplate capacity to six lakh tonnes a year, including one lakh tonnes from its 50% ownership in Punjab-based Vallabh Tinplate.
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