Ranchi: JSPL will invest Rs 20,000 crore in Jharkhand within a few years in addition to Rs 3,000 crore it has already invested in the state, company's Chairman Naveen Jindal said today.
"We will take the capacity of our steel plant at Patratu here to 6 million tonnes from the present 1.6 million tonnes per annum," Jindal said addressing the Momentum Jharkhand Global Investors' Summit 2017.
Jindal Steel and Power Ltd (JSPL) has invested Rs 3,000 crore so far in the state and is set to invest another "Rs 20,000 crore in a few years", he said.
Jharkhand is endowed with rich mineral resources but had suffered political instability, Jindal said, adding that it is now on the path to development. JSPL's Patratu manufacturing facility has a total finished steel capacity of 1.6 MTPA.
The company operates a Bar Rod Mill (1MTPA) and a Wire Rod Mill (0.6 MTPA) along with a rebar service centre. These mills are equipped with the latest state-of-the-art technology to offer advanced quality products like Wire Rods, TMT Rebars, Rounds, Angles, and ready-to-use products like Weld Mesh, Cut and Bend Rebars.