JSPL to invest Rs 1,400 crore for setting up 7 mtpa pellet plant in Odisha

Jindal Steel and Power (JSPL) is planning to set up a 7 million tonnes per annum (mtpa) pellet plant at Angul in Odisha. In this regard, the company will invest around Rs 1,400 crore and it already has clearance from the state government to put up the plant.

The 7 mtpa capacity would come as a part of its expansion project at Angul, where the company is expanding its steel-making capacity to 3.5 mtpa from 2.5 mtpa now. The expansion work at Angul is expected to begin soon as the company secures the financial closure for which it is in talks with the prospective banks.

Moreover, the company has a 4.5 mtpa pellet plant at Barbil in Odisha and is in the process of doubling the capacity.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.