Mumbai (Maharashtra) [India], July 19 (ANI): JSW Steel, the flagship business of 14 billion dollar JSW Group, on Friday began the roll-out of JSW Platina tinplate targeted at packaging industry.
The launch enables JSW Steel to tap the growing opportunity for tinplate products demanded by India's packaging industry. India is one of the countries that have pledged to eliminate single-use plastics by 2022.
JSW Platina offers a significant opportunity to become the most preferred and sustainable packaging material for the future, the company said in a statement.
JSW Steel currently has an annual cumulative installed capacity of 3.5 lakh metric tonnes tinplate, out of which one lakh tonnes are being produced by its joint venture JSW Vallabh Tinplate and the balance 2.5 lakh tonnes at its newly established tinplate facility at Tarapur in Maharashtra.
Given the significant potential for the product to emerge as a preferred packaging material, JSW Steel is doubling its tinplate capacity at Tarapur to five lakh tonnes.
"JSW Steel becomes the first steel company to introduce continuous annealing technology for making tinplate products in India," said Jayant Acharya, Director for Commercial, Marketing and Strategy at JSW Steel Ltd.
"Our investment of close to Rs 1,000 crore in establishing our current tinplate making unit at Tarapur as well as its capacity expansion reflects the burgeoning opportunity for JSW Platina to become a preferred packaging alternative in India in the long term," he said.
As a hygienic and eco-friendly packaging product, said Acharya, JSW Platina can help reduce carbon footprint as India moves towards reducing plastic consumption by eliminating single-use plastics over the next few years.