Jindal Steel and Power (JSPL) subsidiary, Jindal Shadeed’s steel production grew by 8pc to 0.41mn mt in second quarter from the prior year quarter. The Oman-based company’s production rose by 5pc from the prior quarter.
Despite the increase in production, the company’s sales dipped by 23pc to 0.36mn mt in the second quarter compared to prior year quarter. Sales was down 12pc from the prior quarter.
Jindal Shadeed’s plant has a capacity of 2.4mn mt and produced 1.7mn mt in the prior year. The company manufactures long products including TMT rebars, HBI, blooms and billets and is one of the largest integrated steel plant in Oman.