JSPL; Additional Investment For Its Odisha Operations

Jindal Steel and Power Ltd (JSPL) with a dominant presence in steel, power, mining and infrastructure sectors, owned by Navin Jindal have invested additional Rs 8,000-crore for its Odisha operations. The investment will be spend on addition of a blast furnace to take its Angul steel plant capacity to 6-million ton, setting up of a cement plant, laying of slurry pipeline to carry iron ore from mines to steel plant and setting up of a pellet plant.

JSPL at present has a two million ton steel making facility at Angul through sponge iron route. To produce sponge iron, the company had set up a DRI plant based on coal gasification technology, the first of its kind in the country, which aimed to use locally available high ash coal for direct reduction of iron.

JSPL has decided to go for blast furnace route to scale up steel capacity to 6 million ton and for this purpose it is putting up a 4,554 cu mtr blast furnace, claimed to be largest in the country with a capacity to produce 11,000 ton of steel per day. The blast furnace is expected to be ready for commissioning by the end of the current financial year.

Besides, the company also intends to lay a pipeline from the point of sourcing iron ore at Barbil in Keonjhar district to its Angul plant at a cost of Rs 800 crore.

Taking advantage of this cheaper mode of ore transport, the company plans to set up a 4-MnT pa pellet plant at Angul with an investment of Rs 1000 crore.

Similarly, using the slag produced from the blast furnace, the company proposes to set up a cement plant close to its steel mill for which an expenditure of Rs 200 crore has been set apart.

JSPL Crude Steel Production Up 4% in Q2FY17

JSPL has registered crude steel production of 0.88 MnT in Q2 FY17. Standalone crude steel production has gone up by 4% Y-o-Y as in Q2 FY16 the steel maker’s crude steel production was recorded at 0.85 MnT. Recently it has released its quarterly performance results for Q2 FY17. According to the quarterly report released, company’s pellet production was recorded at 1.61 MnT in Q2 FY17.