JAM and MAE joint venture to invest Rs 2,700 crore

29 Mar, 2024

JAM and MAE joint venture to invest Rs 2,700 crore

Composite materials producer Jindal Advanced Materials (JAM) has partnered with Italy's MAE S.p.A. to invest Rs 2,700 crore in establishing a carbon fibre plant with an annual capacity of 3,500 metric tonnes. JAM's ambitious plan includes the production of low-tow to high-tow carbon fibres, with the capacity expansion projected to reach 10,000 MT by 2027. Photo: Pexels

This collaboration positions JAM as a significant carbon fibre supplier, strengthening its role in the global market. The agreement entails setting up India's first carbon fibre facility, leveraging the unique advantages of composites, such as lightweight, strength, corrosion resistance, and non-conductivity.

As part of the USD 35 billion OP Jindal Group, JAM is renowned for its high-performance composite materials and innovative solutions, operating three manufacturing plants in Haryana. MAE S.p.A., a global leader in advanced materials, brings its expertise to the project, aiming to revolutionize carbon fibre production.

The facility will offer the wide range of intermediates, catering to diverse industrial needs, with plans for capacity expansion up to 10,000 MT by 2027. Scheduled for the completion within 30 months, the project encompasses the entire value chain from polyacrylonitrile (PAN) precursor to carbon fibre intermediates.