JSW Steel decides to double tinplates capacity to 05 mt

first_imgMumbai: To tap growing demand for tinplates primarily from the packaging industry, JSW Steel is doubling its tinplates capacity to 0.5 million at its Tarapur facility investing around Rs 420 crore. The company had last fiscal commissioned a 2.5 lakh tonne tinplates plant at the Tarapur facility at an investment of Rs 575 crore and to double the output, it will invest an additional Rs 419 crore. It however, did not offer a time-line for the expansion plan. The company attributed the rationale for capacity augumentation to the rising demand from the packaging industry, which is opting for sustainable packaging material as an alternative to single-use plastic which the government plans to eliminate by 2022. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to Customs”This will spawn higher demand for tinplates, and the company is plannign a second tinplate plant at Tarapur, which will double its capaciy to 0.5 million tonne,” it said Friday. Accroding to JSW Steel’s annual report, it will be investing Rs 419 crore for this. JSW Steel currently has an installed capacity of 3.5 lakh tonne tinplates, of which 1 lakh tonne is with JSW Vallabh Tinplate joint venture, and the balance 2.5 lakh tonne come from its Tarapur facility, in Maharashtra. It markets its tinplates products under the label of JSW Platina. “Our total investment in tinpaltes will be close to Rs 1,000 crore at Tarapur and this capacity expansion reflects the burgeoning opportunity for tinplates,” commercial director Jayant Acharya said.last_img read more

Eid celebrations in Hamilton

Millions of Muslims around the world celebrated Eid Saturday, including thousands of people in Hamilton.The city’s Muslim community is growing, and is in the midst of creating new prayer spaces to accommodate that growth.Thousands of Muslims across the city attended prayers to celebrate the end of this year’s Hajj season.Eid, also known as the festival of sacrifice, is marked by sacrificing animals to feed the poor.Over two million Muslims took part in the Islamic pilgrimage of Hajj in Saudi Arabia this year.Hajj is regarded as one of the pillars of Islam and according to the Quran every Muslim who can physically and financially afford the pilgrimage must perform it at least once in their life time.After prayers, the Muslim community marked the celebration with a day long family Eid festival in the parking lot of the new mosque in downtown Hamilton.The mosque will also serve as a community centre when construction is complete.Hamilton’s Muslim community includes about 30,000 people, thus the need for another prayer space in the downtown core.The festival featured henna tattoos, food, and even bouncy castles.All the money collected at the festival will help pay for the new mosque.Community members expect the mosque to be completed by the end of the year.By then the mosque will be a fully functional community centre, with a gym, fitness centre and mostly importantly more prayer space. read more