#jspl

” Reliance is the heaviest weighted counter in Nifty and it has been a thing that whenever market needs a strong support when every other counter is lacking strength then Reliance comes back into action,” says Aditya Arora, Adlytick.Have we missed the big move on Reliance or it is just breaking out? Should any pullback of 40-50 points be used to get in back because the giant is just waking up?…

Market this week 9-12-2022

For Rs. 410 crores, JSPL buys the power plant from Monnet Power. According to sources with knowledge of the situation, Jindal Steel & Power Ltd. has purchased a Monnet Power Company under-construction facility for Rs. 410 crore through the insolvency resolution procedure. Adani Power was one of the candidates for the plant. The 1,050 MW power station is situated in the Angul district of Odisha,…

Steel Minister Ram Chandra Prasad Singh on Thursday dedicated JSPL's 1.4 MTPA TMT rebar mill located at the steel unit here to the nation.

The rebar mill is one of the world's largest rebar making units and the only producer of 50 mm width TMTs in India, Jindal Steel and Power Ltd (JSPL) said in a statement.

"Union Steel Minister Ram Chandra Prasad Singh dedicated one of the world's largest 1.4 MTPA capacity rebar mill to the Nation on Thursday," JSPL said.

The ultra-modern rebar mill of 1.4 MTPA (million tonne per annum) capacity is located at JSPL's 6 MTPA plant in Angul, Odisha.

The minister also visited JSPL's 2 MTPA coal gasification plant (CGP) located within the steel unit. JSPL is the only company in India which is using coal gasification technology to produce steel at its plant in Angul.

Tata Steel, ArcelorMittal-Nippon Steel India unlikely to bid for NMDC unit

Tata Steel and ArcelorMittal-Nippon Steel India (AM/NS India) may not bid for NMDC’s privatisation-bound, under-construction 3 million tonnes per annum (mtpa) steel unit at Nagarnar in Chhattisgarh. This leaves Sajjan Jindal’s JSW Steel, Naveen Jindal’s Jindal Steel and Power and new entrants into the steel sector like Vedanta and Adani Group, in the fray. The Centre had in October 2020 approved…

After bagging Utkal B1 and B2 coal block in the Angul-Talcher belt in the state, Jindal Steel & Power Limited (JSPL) on Friday said it would develop its Odisha plant into the largest and greenest facility in the world.

This was stated by the company's chairman Naveen Jindal. He said JSPL has secured sufficient reserves of coal to enable the mega steel company to enhance its capacity for green steel making.

He claimed that JSPL is the first steelmaker in the world to build Coal Gasification to produce steel using clean coal technologies.

Greeting the people of Odisha on the occasion of Utkal Divas, Jindal said, "We won the Utkal B1 & B2 Coal Block on 17th Punya Tithi of Shri OP Jindal Ji who had a vision of using indigenous coal to make steel. This will help us to translate the shared dream of Bauji and legendary leader Biju Patnaik ji to a reality and bring prosperity to Odisha through value addition of natural resources and industrialisation".

"Odisha is our karmabhoomi (workplace) and we are firmly committed to its overall development. Aligning with Chief Minister Naveen Patnaik's vision of industry-led holistic prosperity, we will make the world's largest single-location steelmaking complex at Angul, Odisha by 2030," he said in a tweet.

The High-Level Clearance Authority of Odisha, headed by Chief Minister Naveen Patnaik, had approved JSPL's proposal to expand the capacity of its steel plant to 25.2 MTPA at Angul by 2030. This would be the world's largest and greenest single-location steel plant, thus pitching Odisha's USP on the global steel map.

The capacity expansion is expected to increase JSPL's investment in Odisha to more than Rs 1,25,000 crore from Rs 45,000 crore at present. This is also expected to generate enormous economic activity and employment opportunities in the state.

The coal gasification route, also known as an environment-friendly technology, would be helpful in producing steel using indigenous coal, leading towards Atma Nirbhar Bharat, he said.

Stating that this would reduce dependency on imported coal and save huge foreign reserves, Jindal said the coal gasification technology can also help India to overcome the perennial shortage of oil, gas, methanol, ammonia, and urea.