Jindal Steel & Power (JSPL) has set a 7.5mn mt steel production target for its Indian operations in FY 2021, a recent conference call with the company management revealed.
In the first three quarters of FY20, the company’s steel production in India was at 4.76 mn mt.
In FY19, production was at 5.25mn mt.
Production from JSPL’s Raigarh unit is currently at 275,000-300,000mt per month.
An increase in production will come from its recently resumed operations at the direct reduced plant (DRI), based on coal gasification, in Angul, Odisha.
The production capacity of the plant is 1.8mn mt.
Presently, the company produces 4,000mt per day from the plant, but will scale to 6,000mt per day from February 2020.
This increase will put the monthly steel production from the Angul unit at 375,000-400,000mt per month,
JSPL’s conference call cited strong demand in the domestic market from specifics sectors, including ship building, oil tankers, and Metro rail projects, as driving demand for steel in 2020.