INDIA-Jindal Steel & Power to commission 2 mtpa steel capacity by March

Jindal Steel and Power
Ltd.(JSPL) expected to start steel production at it’s Angul plant by March this
year.“We hope to start producing steel by March this year. By this time we hope
to achieve 2 million tonne steelmaking capacity and scale it up to six million
tonne in three years”, said Ratan Jindal,chairman,JSPL. He said this after a
meeting with Odisha Steel and mines secretary Rajesh Varma. The company had signed an MoU (memorandum of understanding) with the
state government for developing a six mtpa steel plant in November 2005 at an
investment of Rs 22,420 crore. Asked on renewal of
MoU with the state government, Jindal said, “There should not be any problem in
MoU renewal since we have achieved all milestones that we had committed in the
original MoU.”