Jindal Steel and Power (JSPL), a steel maker and power generator, likely to spent about Rs 1,00,000 crore in Jharkhand to set up two steel plants of 11 million tonne annual capacity by 2016. The company also plans to set up 6,600 MW power plants in Jharkhand. Chief Minister Arjun Munda and Jharkhand Mukti Morcha leader Shibu Soren commissioned a steel bar mill of 1.2 million tonne per annum capacity in Patratu.
By second half of 2015 JSPL aims to come up with integrated steel mill of total 6 million tonne capacity in Patratu, where it already has a steel plate mill of 0.6 million tonne per annum. Other than this, JSPL also has plans to set up another 5 million tonne capacity steel plant at Asanboni in East Singhbhum district in the state which is expected to be commissioned by 2016. Two plants of 1320 MW each at Dumka and Godda is also on the anvil.
Recently, Jindal Steel & Power has raised $475 million through the takeout financing route, to part finance expansion plans overseas. The company has raised the loan at 225 basis points over the LIBOR, for a tenor of five years, with 10 large banks participating in the transaction. The banks include Standard Chartered, DBS, Citibank, Bank of Tokyo Mitsubishi, Mizuho, Barclays, RBS, ANZ, Credit Agricole and JP Morgan.
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
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