JSPL plans to increase its production capacity

JSPL plans to increase its production capacity

According to the recent market news, Jindal Steel and Power Limited (JSPL) has invested Rupees 5.5 billion (approx.$121 million) to increase its current steel output capacity from 750'000 tons to 1.2 million tons. It also plans to establish a sponge iron plant in Orissa, which will have a capacity of 1 million tons. The officials of the company state that, the project includes; establishment of MVA (manufacturing value added) electric arc furnace, increasing capacity of captive power plant at Raipur and expansion of direct reduced iron (DRI) output capacity, which will be increased from the current 650'000 tons to 1.3 million tons. The new projects will be funded by internal accruals and with the materialization of the projects, costs of production are expected to decrease.