India’s major steel manufacturer company, JSW Steel, plans to pump in Rs 6,000 crore in the current fiscal.

Under the investment plan, the company will accomplish its expansion plans, which include capacity addition in its existing steel units in the country and acquisition of iron-ore mines in American and African continents.

The company currently produces around 4.8 million tonnes of steel per annum from its Vijayanagar plant in Karnataka and Salem plant in Tamil Nadu.

Indicating its future roadmap, company’s (JSW Steel) CEO, Mr. Y Siva Sagar Rao stated, “By the end of this year, the capacity at these two plants will increase to around 8 million tonnes and by 2010 to 10 million tonnes. We will shortly be setting up steel plants in West Bengal and Jharkhand and this will increase our production to 32 million tonnes by 2020.”

“We are in the process of tying up with a mine owner in Orissa and have alerted coal suppliers too. The first phase of the plant will be completed in 30 months,” Rao added.

The company also plans to start work on the steel plant in West Bengal in the coming three months.

With to intentions to expand its business, the company has recently opened its first branded showroom in Bangalore and plans to open 50 retail outlets across the country by the end of the year.

Stock of JSW Steel closed at Rs 900, low Rs 80.85 on National Stock Exchange. The total volume of shares traded was 135,090 at the Bombay Stock Exchange.