JSW Group said on Monday it would invest Rs.150 crore to set up a 1.2 lakh metric color coated steel manufacturing plant in Jammu and Kashmir. The plant will be set up by the JSW Steel group company, JSW Group said in a statement.

“JSW is committed to setting up a state-of-the-art color coated steel fabrication plant with a capacity of 120,000 metric tons per year as well as special lines,” he said. .

Steel sandwich panels and steel doors will be individually manufactured for the local Jammu and Kashmir market, the statement said.

According to the statement, Union Interior Minister Amit Shah presented the land allocation documents to Sajjan Jindal, chairman and managing director of the JSW group, on Monday.

This facility will be set up with an investment of approximately Rs 150 crore in Lassipora, Pulwama in Kashmir.

Jindal said, “This facility will bring immense benefits to local businesses and society in a significant way and provide employment opportunities for local youth.

JSW Steel is the flagship business of the diversified $ 13 billion JSW Group. The company has an integrated steelmaking capacity of 27 million tons in India and steel products like hot rolled, cold rolled, bare, TMT, wire rod and special steel, etc.

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In an BSE filing, the company said it reported net profit of Rs 1,595 crore in the July-September quarter of the previous fiscal year. Its total income during the quarter under review climbed to Rs 33,449 crore from Rs 19,416 crore during the period last year.

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