SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Jindal Steel raises Rs 3500 crore to fund the world’s biggest steel plant in Orissa: Report

13 Jul 2012 Evaluate

Jindal Steel and Power (JSPL) has managed to raise Rs 3500 crore from consortium of lenders for funding the requirements for setting up the world’s biggest steel plant in Orissa, as mentioned in a media report. The debt will add to Jindal Steel's consolidated debt of Rs 14,716.8 crore as on March 31, 2012.

Little deferred from the date, the steel maker had proposed to set up the first phase of six-million tonnes per annum (mtpa) steel project by March 2012 in the state, the capacity of which is planned to be scaled upto 20 mtpa in next 10 years. The company would start operations with the commissioning of a two-mtpa steel plant in the first phase.

Recently, it was reported that the company is being probed for allegedly accessing iron ore from Sarada Mines, group's mining associate, at rates below the market price. Depriving the Odisha government of royalty, the rates charged for the mine ore that JSPL processed, largely for its own use, was about one-tenth of the prevailing rates fixed by Indian Bureau Mines (IBM).

Jindal Steel Share Price

1269.50 45.65 (3.73%)
17-Apr-2026 16:59 View Price Chart
Peers

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×