JSW Steel Ltd, India's leading steel company and the flagship business of US$ 14 billion JSW Group, today began the roll-out of JSW Platina, premium tinplate targeted at packaging industry. The launch of JSW Platina 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 & sustainable packaging material for the future.
JSW Steel currently has annual cumulative installed capacity of 3.5 lakh metric tonnes tinplate, out of which 1 Lakh metric tonnes is being produced by its JV ( JSW Vallabh Tinplate) and the balance 2.5 lakh metric tones at its newly established tinplate facility at Tarapur in Maharastra. Given the significant potential for JSW Platina to emerge as a preferred packaging material, JSW Steel is doubling its tinplate capacity at Tarapur to 5 Lakh metric tonnes.
Commenting on the launch of JSW Platina, Mr Jayant Acharya, Director - Commercial, Marketing & Strategy for JSW Steel Ltd said, "JSW Steel becomes the first steel company to introduce continuous annealing technology for making Tinplate products in India. This technology ensures availability of world's best quality Tin-plate steel for Packaging. Our investment of close to Rs 1,000 crores 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. As a hygienic & eco-friendly packaging product, JSW Platina can help reduce carbon footprint as India moves towards reducing plastic consumption by eliminating single use plastics over next few years. JSW Platina also offers packaging industry a Made In India alternative by offering continuous annealed tinplate which are, so far, entirely imported by packaging manufacturers. Our technologically advanced product is well-positioned to reduce the foreign exchange burden of these manufacturers through import substitution with JSW Platina."
According to Mr Amit Agarwal, CEO - JSW Steel Coated Products, "Our state-of-the-art Continuous Annealing Line process ensures very high uniformity in terms of gauge and temper of tinplate. Uniformity and precision are the most crucial differentiators for manufacturers with high-speed can lines as it helps them increase their yield per tonne while reducing rejections. JSW Platina, a Continuous Annealed Tinplate product, will enable our customers achieve higher productivity which in turn can have a direct bearing on the scale, efficiency, and profitability of their business. The continuous annealed tinplate process ensures lower production lead time of JSW Platina thereby enabling faster delivery to our customers."
JSW Platina has a wide variety of applications in both food and non-food packaging. It is available as Tinplate or Tin Free Steel (TFS) in both Single Reduced (SR) and Double Reduced (DR) variety. Double Reduced (DR) product is normally Thinner, Stronger, and Brighter, as compared to conventional Single Reduced Tinplate and gives more cans from each ton without compromising strength. Since different applications of JSW Platina requires different degree of hardness for base material, the desired hardness is achieved through a complex process involving Annealing and temper rolling mill/double cold rolling mill conforming to the globally accepted standards. JSW Platina has versatile applicability as a packaging material ranging from Food cans, juices, Coffee Cans, Edible Oils, Ghee and Vanaspati to battery, aerosol cans and crown corks and many others.
Shares of JSW STEEL LTD. was last trading in BSE at Rs.266.45 as compared to the previous close of Rs. 271.8. The total number of shares traded during the day was 212030 in over 1320 trades.
The stock hit an intraday high of Rs. 271.7 and intraday low of 265. The net turnover during the day was Rs. 56694629.