In a strategic move aimed at solidifying its presence in India’s burgeoning steel sector, Jindal Steel and Power (JSP) has unveiled an ambitious plan to transform its Angul unit in Odisha into the country’s largest single-location steel manufacturing facility. The company’s Managing Director, Bimlendra Jha, recently shared insights into this substantial expansion endeavor.
Currently operating at a capacity of 5.6 million tonne per annum (MTPA), the Angul plant is in the process of a substantial upgrade that will propel its capacity to an impressive 11.6 MTPA. However, JSP has even grander ambitions, eyeing a potential future expansion that could double the plant’s capacity to a staggering 24 MTPA. This bold vision could potentially position the Angul plant as India’s preeminent single-location steel manufacturing powerhouse. While specific timelines for this audacious plan remain undisclosed, the magnitude of the proposal underscores JSP’s commitment to the Indian steel industry.
Not stopping there, the Raigarh steel plant is also slated for a significant expansion, poised to increase its capacity from 3.6 MTPA to an impressive 9.6 MTPA. This expansion initiative demonstrates Jindal Steel and Power’s dedication to fortifying its manufacturing capabilities across the board.
With regard to the Angul plant’s expansion, Jindal Steel and Power aims to achieve trial production by the conclusion of 2023, paving the way for commercial production to commence the following year. These developments reflect the company’s unwavering commitment to growth and its readiness to meet the ever-increasing demand for steel in the Indian market.
The growth prospects for India’s steel sector appear promising, largely attributed to the government’s substantial investments in infrastructure projects and the burgeoning domestic demand. Bimlendra Jha expressed optimism about the sector’s growth, citing a demand growth rate currently ranging between 7-8 per cent. He emphasized that the present moment presents a unique opportunity for investment in the domestic steel industry. India is increasingly seen as an attractive alternative to China, and government schemes like the Production-Linked Incentive (PLI) are driving the demand for specialized grades of steel, both in terms of production and consumption.
Notably, the Raigarh steel plant includes a 1 MTPA rail mill and produces structural steel and steel plates catering to various applications. On the other hand, the Angul steel plant, renowned for its 5-mtr-wide plates, houses a 1.4 MTPA rebar mill, further contributing to JSP’s diversified steel production capabilities.
In conclusion, Jindal Steel and Power’s bold expansion plans underscore its commitment to playing a pivotal role in India’s steel industry growth story. With these transformative initiatives, the company is poised to make significant contributions to the country’s infrastructure development and bolster its position in the global steel market.