Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Odisha’s State High-Level Clearance Authority, led by chief minister Naveen Patnaik, has sanctioned the expansion of the Jindal Steel and Power (JSPL) Angul plant with an Rs24.62bn investment. After the expansion, the plant’s annual capacity will reach 25.2mn mt from the present 6mn mt.


Some large-scale manufacturers have been turning to new investments this year, gaining support from bullish steel rates earlier this year. The steel market, however, is at present under pressure due to a decline in sales.  


On Tuesday, the Odisha government approved five industrial projects, including Bhushan Power and steel integrated steel plant in Sambalpur, Tata Steel’s crude steel and HRC production expansion, among others.


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