Jindal Steel and Power (JSPL) is in discussion with UK-based steel trader Stemcor in order to purchase its Odisha-based unit, Brahmani River Pellets (BRPL). BRPL, a wholly owned Stemcor project, has a 4-million tonne per annum beneficiation plant at Barbil supplies a pellet plant at Jajpur in Odisha through a 220-km underground slurry pipeline. The beneficiation plant refines low-grade iron ore fines from local mines.
The firm has reported 24.54% drop in FY13 net profit at Rs 1592.55 crore as compared to Rs 2110.65 crore for the year ended March 31, 2012. The company’s total income has increased by 11.80% at Rs 15113.98 crore for the year as compared to Rs 13518.43 crore for the previous year.
