Jindal Advanced Materials and MAE of Italy have partnered to spend Rs 2,700 crore on a carbon fiber plant.

Composite materials producer Jindal Advanced Materials (JAM) has collaborated with Italy’s MAE S.p.A. to invest Rs 2,700 crore to set up a carbon fibre plant of 3,500 metric tonnes annual capacity. With the development, JAM is set to become a key supplier of carbon fibre, a statement said.

According to the statement, JAM has signed an agreement with Italian speciality chemical fibre manufacturer MAE S.p.A. to set up India’s first carbon fibre facility of 3,500 metric tonnes (MT) annual capacity at an investment of Rs 2,700 crore.

The facility will offer a comprehensive range of intermediates viz prepregs, fabrics, multiaxial and carbon fibre composites catering to diverse industrial needs.

Source: Economic Times