Steel Minister dedicates Jindal Steel & Power's 1.4 MTPA Rebar Mill to the Nation

Union Steel Minister Shri Ram Chandra Prasad dedicated one of the world's Largest 1.4 MTPA capacity Rebar Mill to the Nation on Thursday at Jindal Steel's 6 MTPA integrated Steel Complex in Angul, Odisha.

Honourable Steel Minister Shri Ram Chandra Prasad also inspected the functioning of India's First & Only Coal Gasification Based 2 MTPA DRI (Direct Reduced Iron) Plant at Jindal Steel, Angul. The Coal Gasification Plant is equipped with Carbon Capture technology and is already capturing approximately 2000 tonnes of Co2 per day, helping Jindal Steel to reduce its carbon footprint significantly. Jindal Steel is expanding its Angul Plant capacity from 6 MTPA to 12 MTPA and the company will achieve an overall 15 MTPA steelmaking capacity by 2025.

"We are privileged that India's largest TMT rebar mill is being dedicated to the nation in the presence of Union Steel Minister Shri Ram Chandra Prasad. Keeping in line with our Sustainability focus, we commissioned India's first CGP based DRI Plant at Angul. We are aligned with the Government of India's Climate commitment at COP26 to become a carbon-neutral Nation by 2070", said Mr. Naveen Jindal, Chairman, Jindal Steel & Power.

"We are happy to announce that Jindal Steel now can produce 50 mm TMT Rebars at our 1.4 MTPA rebar mill which will be the first of its kind mill in the Country. Our Research & Development team has successfully developed 50 mm Rebars. We believe in India's growth story and our operations are aligned with the Honourable Prime Minister's vision of making a Self-Reliant India", said Mr. V R Sharma, Managing Director, Jindal Steel and power.

Shares of Jindal Steel & Power Limited was last trading in BSE at Rs. 545.55 as compared to the previous close of Rs. 540.25. The total number of shares traded during the day was 215255 in over 5292 trades.

The stock hit an intraday high of Rs. 549.10 and intraday low of 536.15. The net turnover during the day was Rs. 116611767.00.

Source : Equity Bulls

Keywords

JindalSteelandPower INE749A01030 JSP RebarMill Angul Odisha