jindal steel: JSPL’s steel production rises in March quarter

& Power Limited (JSPL) on Monday reported a growth of 2 per cent in steel production to 2.11 million tonnes for the quarter ended March 2022.

Its sales also registered a growth of 8 per cent to 2.07 million tonnes (MT) in the January-March period, according to a statement.

In the financial year 2021-22, the company produced a record 8.1 MT of steel, while sales stood at a record 7.63 MT.

Despite several challenges in FY12, JSPL managed to cross the 8 MT mark for the first time in its production guidance. JSPL has registered impressive growth in annual steel sales for the fifth year in a row, year-on-year, the statement said.

VR Sharma, Managing Director, JSPL said, “Our target is to produce over 9 MT in FY23. The expansion of our Angul plant is on track and we expect to reach a capacity of over 15 MT by FY25. The company has significantly increased its raw material supply. Recently four new coal blocks”.

As part of its expansion, the company plans to set up a coal gasification plant to manufacture steel through gasification technology.

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