JSPL Plans to Ramp Up Production at Angul and Oman Units

Industrialist Naven Jindal led steel and power major – Jindal Steel and Power Limited (JSPL) yesterday announced that it plans to increase production at Angul and Oman Plant. During Q2 of FY 2018-19, JSPL is also looking to start the 2 MnTpa DRI Plant powered by world’s largest Coal Gasification Plant (CGP) for steelmaking at Angul.

Mr. N A Ansari, CEO JSPL said that, “ With the 6 MnTpa integrated steel plant at Angul tracing the planned ramp-up blue print, we are confident of setting new production and sales benchmarks with every passing quarter. We are aiming at further accelerating the production momentum at Angul and Oman, as well as take Raigarh steel plant capacity utilization to near 100% level.”

The company aims to ramping up production at its coal mines in Australia, South Africa and Mozambique in the coming quarter. JSPL set a target to ramping up production at its coal mines in Australia, South Africa and Mozambique in the coming quarters. 

JSPL Production performance in Q1 FY19 – JSPL’s standalone steel sales stood at 1.19 MnT, up by 46% on year on year basis. Its pellet plant records superlative performance by producing 1.76 MnT of pellet during Q1 of FY 2018-19. Company’s standalone crude steel production stood at 1.22 MnT, up 36% Y-o-Y.

JSPL bagged order for supply of rails – JSPL recently bagged order for supply of close to 1 lakh tonnes of Rails under a global tender floated by Indian Railways, which saw participation from 7 leading global rail manufacturers to meet its forth coming requirement. In this regard, Mr. Ansari said that, “the recent order of supply of rails to Indian Railways has come as major boost in our Make in India impetus. We aim at accelerating the deliveries to Indian Railways so as to emerge as a reliable long-term partner for the modernisation and expansion plan to the national transporters.”

JSPL has capacity to produce over 50,000 tonnes of rail every month. Company is confident to assist Indian Railways for faster completion of their planned rail track rollout targets.
 
JSPL’s financial performance in Q1 FY19 – Company reported a consolidated revenue of INR 9,665 crore and consolidated net profit of INR 110 crore. On standalone basis company recorded quarterly revenues of INR 6734 crore and net profit of INR 332 crore.