Indian's Jindal Steel and Power Limited (JSPL) has announced that its plant in Oman, Jindal Shadeed, has started trial production almost four months ahead of schedule with first production of hot briquetted iron (HBI) on December 5, 2010, before the target date of March 31, 2011.
According to a Jindal release, Jindal Shadeed has installed a 1.5 million mt per annum gas-based HBI plant in the Sohar Industrial Port area of Sohar, Oman.
Announced earlier this year, a definitive share purchase agreement and other transaction documents were signed with a takeover price of US$500 million, including the assumption of liabilities, for the acquisition of Shadeed Iron & Steel Co. LLC by Jindal Steel and Power through its subsidiary Jindal Steel & Power (Mauritius) Ltd.