Jindal Saw plans to invest $600 million for capacity expansion

Jindal Saw is planning to invest $600 million over the next two years to expand its capacity and buy stakes in firms based in the Middle East, the US and the European Union. The company has already begun talks with firms for buying stakes and signing of the deals may happen within a year. The company might raise some debt to fund the proposed fund infusion, but a majority would come from internal accruals.

The company is interested in buying stakes in firms which produce ductile iron and seamless pipes. The company has enough capacity for large-dia pipe makings in India.

Jindal Saw’s net profit for the fourth quarter declined 54.95% at Rs 80.19 crore as compared to Rs 178.00 crore for the corresponding quarter previous year. Its total income increased 6.74% at Rs 1164.36 crore for the quarter under review from Rs 1090.86 crore in the corresponding previous quarter.