Finnish stainless steel major Outokumpu has announced plans to build a new cold rolling mill in India.

The mill is designed with a capacity of 250,000 tons, and it roll hot rolled coil into sheets for consumption in various industries. HR coils will be imported from its plants in Finland and Sweden.

The new CR mill will be capable of producing thickness 0.4mm and 0.5mm, and cold rolled coil will supply to catering, appliances, architecture, fabrication and white goods sectors.

Moreover, the company is also setting up a business centre in Mumbai, which would have an annual capacity of 50,000 tons of stainless steel.