JSPL to enhance Angul plant's capacity to 20 mtpa by 2030

Bhubaneswar: The Jindal Steel and Power Ltd (JSPL) has set a target to increase its Angul plant's capacity to 20 mtpa by 2030 and plans to set up an industrial park in Odisha, a top company official said Friday.

The company also plan to lay a slurry pipeline of 200 km from Barbil to Angul for transportation of iron ore, he said.

This was revealed by JSPL chairman Naveen Jindal after meeting Odisha Chief Secretary A P Padhi. He also met steel and mines secretary R K Sharma and industries secretary Sanjeev Chopra here.

"We have plans to invest additional Rs 50,000 crore for enhancing the Angul plant's capacity from 6 mtpa to 20 mtpa in next 12 years," Jindal told reporters.

"This we are going to do without much borrowing. First we want to repay our entire debt. This will be done through internal earnings and through bringing more equity. We may get more strategic investors to achieve this," Jindal said adding that the company has planned the layout on how to achieve the 20 MT of production of steel in next 12 years."