Notwithstanding raw material crunch, Jindal Steel and Power Limited (JSPL) plans to raise the capacity of its steel plant using gasified coal at Angul in Odisha to 6 MTPA from 2 MTPA by the end of 2016.
The Angul steel plant would be expanded from the present capacity of 2 MTPA to 6 MTPA by the end of next year, JSPL Chairman Naveen Jindal said at a conference here today.
He said the plant uses a revolutionary technology involving gasified coal for manufacturing steel, the first project of its kind in the country.
Stating that inadequate raw material posed a major problem before the industry, Jindal said while the issue was being addressed by the state government as well as the Centre, the company was optimistic.
Though there are challenges in setting up industries, the state government has been extending all necessary cooperation and assistance, he said.
The JSPL chiarman also met Odisha's Steel and mines Minister Prafull Mallick and Chief Secretary Gokul ch. Pati and apprised them about the status of Angul Plant and important issues pertaining to availability of adequate raw material at economic prices.
Asked about winning the Coal block at Chhattisgarh, Jindal said the both Gare 4/2 and 4/3 originally belonged to JSPL for its Power Plant which were subsequently cancelled.
Jindal expressed happiness over winning the Coal block at the reverse bid and also said the Country is optimistic of the steps taken by the government to pursue the mission of 'Make In India'.
To a question on the prospects of JSPL bidding for Utkal B1 Coal block, the JSPL Chairman said the matter is sub-judice and JSPL has total faith on the judiciary process of the country.
Regarding cancellation of CTL Project in Odisha, Jindal clarified that the Coal to Liquid Project (CTL) is an innovative technology of producing liquid petroleum products from coal which was linked to the allocation of coal mines.
"The future of this project depends upon the availability of coal mines and the policy of the government in the related sector," said Jindal.