LAHORE, Sept 12: Indian multinational Jindal Group is considering investing Rs20 billion in a stainless steel manufacturing project in Pakistan. Jindal's commercial director R.K. Goyal was talking to newsmen during a one-day conference on “enhancing competitiveness through use of chromium-manganese austenitic stainless steel” here on Tuesday. The conference was organised with the cooperation of the Pakistan Sugar Mills Association.

He said his company was interested in investment in Pakistan because stainless steel worth Rs1 billion was being consumed in Pakistan annually and the consumption was increasing by an average 15 to 20 per cent per annum. The company is trying to talk to the Board of Investment for this purpose and will go ahead with its plans after its nod.

Rajiv Chadha and L.K. Singhal said quality of sugar could be improved by use of chrome-manganese austenitic stainless steel because it was corrosion resistant.

Pakistan Sugar Mills Association Chairman Zaka Ashraf said sugar mills could benefit from the use of chrome-manganese austenitic steel because it cost less than stainless steel and lasted for 10 to 20 years.