Indian steelmaker Jindal and Steel Power Limited (JSPL) is exploring the possibility of constructing a 2.0-2.5 million mt steel mill in the eastern Indian state of Jharkhand, a company official said on Tuesday, March 17.
The official said that JSPL already operates a wire rod mill, a 1 million mt per year capacity steel bar mill and a rebar service centre and that the proposed steel mill will be a backward integration project, now under ‘active consideration.’
With raw material already available in Jharkhand and the basic engineering for construction of the steel mill was already completed and that the company was waiting for the right time to commence the project, the official said.
For the current fiscal year, JSPL has set a steel production target of 6.5 million mt from its operations in India and another 1.8 million mt from its steel mill in Oman, with the company expecting total steel production to touch 8.3 million mt by close of the current fiscal year on March 31, 2020.
On its operation of its steel mill at Angul in the eastern state of Odisha, the official said that its capacity of 5 million mt per year will be ramped up to levels of 20-30 million mt by 2030-35, with the location offering all the raw material requirements of the plant, proximity to port and railway connectivity.