Jindal Steel & Power Limited, one of India’s largest integrated manufacturers, has touched its crude steel production at 1.1 MnT in Q1 FY16. The company’s production has witnessed a growth of 38% against the same period of FY15. JSPL had produced about 0.8 MnT crude steel and sponge iron in Q1 FY15.
The conglomerate’s production facilities in Angul (Odisha), Raigarh (Chhattisgarh) and Sohar (Oman) operated at optimum levels, which resulted in higher crude steel and sponge iron production.
During Jan-Mar quarter, the company’s crude steel production up 45% to 1.1 MnT against same quarter of CY14. While, sponge iron production increased by 18% to 0.87 MT during the same duration.
For entire FY15, crude steel production rose 25% to 3.62 MnT in contrast to FY14. However, sponge production rose 10% to 3.08 MnT during the same period.
The company is anticipating to ramp up its steel production by 50% to 5 MnT in FY16, in case conditions are favourable.
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