Jindal Steel & Power (JSPL), which is currently the country’s sixth-largest steel producer, plans to climb to the third slot by 2015.
By 2015, the firm reportedly aims to raise its steel capacity to 14 million tonne per annum (mtpa) and pellet (direct reduced iron) capacity to 14.5 mn tpa.
The firm plans to set up a 6 mn tpa steel plant in Angul, Odisha on an investment of Rs 30,000 crore. An additional Rs 11,000-12,000 crore would be invested in Patratu, Jharkhand, for steel capacity of 3 mn tpa.
The company would continue to focus on its steel business and this would account for a major part of JSPL’s portfolio. The company might consider separating the power and steel businesses and setting up two separate entities.
The company has a 3 mn t steel plant in Raigarh, Chhattisgarh, besides a 1.4-mn t sponge iron plant and a 1.7-mn t hot metal facility.
In order to meet its ever rising need for raw material, the firm is in the process of acquiring coking coal and iron ore mines abroad.
The company, meanwhile, plans to set up steel production and mining projects in Brazil, Indonesia and Mongolia.
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