Jindal Steel to lift output amid increased demand
India's Jindal Power and Steel (JSPL) aims to raise its crude steel output to 8.5mn t during the 2020-21 fiscal year ending 31 March on expectations of increased demand from infrastructure projects.
JSPL expects to produce 6mn t of crude steel in 2019-20, JSPL managing director VR Sharma told Argus.
The company in April refurbished its 4,554m³ blast furnace at it's 6mn t/yr Angul works in east India's Odisha state. The refurbished furnace is expected to produce 9,200 t/d of pig iron in 2020-21, up from current output of 7,000 t/d.
Increased demand from infrastructure projects, especially for rail by state-owned Indian Railways and the building of new metro lines by private-sector companies, along with the building of water pipeline projects will drive steel sales for JSPL, Sharma said.
The company expects to increase its total supply of rail for domestic and global orders by 17pc to 700,000t in 2020-21 from 600,000t in 2019-20. JSPL operates a 1mn t/yr rail steel mill at its 3.6mn t/yr integrated steel plant at Raigarh in east India's Chhattisgarh state. The company has already supplied rail steel to Iran, Bangladesh, Malaysia and the UAE, along with domestic supplies. JSPL also plans a 25pc increase in its rail sales to Indian metro rail projects at 10,000t by 2020-21 from an estimated 8,000t in 2019-20.
JSPL in April 2018 became the first private-sector supplier of rail to Indian Railways, completing an order of 97,400t.
The company also expects a rise in demand from pipe manufacturers supplying to oil and gas and water pipeline projects under way in India. It has already supplied about 20,000t of steel for pipeline projects especially in the south India states of Telangana, Andhra Pradesh and Tamil Nadu.
By Charlotte Rao
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
