GPIL Acquires Stake in Jammu Pigments Limited, Plans Major Expansion

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In November, GPIL acquired a 49% stake in Jammu Pigments Limited (JPL), a non-ferrous metals recycling company, valued at around Rs. 500 crore. The company plans to acquire an additional 2% stake, pending certain conditions. JPL operates plants in Kathua (J&K) and Kota (Rajasthan). GPIL is focusing on expanding its iron ore mining and pellet production capacities and developing an integrated steel plant, aiming for a fourfold increase in steel production. The approval for the expansion of iron ore mining capacity is expected by Q4 FY25. GPIL also aims to increase pellet production capacity from 2.7 MnT to 4.7 MnT by Q1 FY26, with an estimated investment of Rs. 600 crore. This strategic acquisition and expansion plans position GPIL to strengthen its foothold in the steel and metals sector, enhancing its growth prospects in both domestic and global markets.

Note: The above-mentioned news was first published by us in our ProjectX India | 1st January 2025 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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