Jindal Steel and Power Limited (JSPL)

Jindal Steel and Power Limited (JSPL) is an Indian steel company located in New Delhi. It’s part of the OP Jindal Group. Among private steel producers in India, it ranks third in terms of production volume and is the only private company in India that makes rails. JSPL produces various steel products like sponge iron, mild steel slabs, rails, structural items, hot rolled plates, iron ore pellets, and coils.

JSPL is known for setting up the world’s first coal-gasification based Direct Reduced Iron (DRI) plant in Angul, Odisha. This innovative plant uses locally available high-ash coal to produce synthesis gas for steel making, reducing the need for imported coke-rich coal. JSPL’s coal gas-based steel technology has been recognized and studied at Harvard University.

Operations

Angul: Recently, the Union steel minister Ram Chandra Prasad Singh opened Jindal Steel’s new 1.4 million tons per annum (MTPA) TMT rebar mill at its integrated complex in Angul district, Odisha.

Barbil: JSPL’s pellet plant in Barbil has a total capacity to produce 9 million tons per annum (MTPA) of pellets in various grades. The plant has a dry grinding facility that uses recuperation type straight grate technology.

Patratu: JSPL’s manufacturing plant in Patratu, Jharkhand, can produce a total of 1.6 million tons of finished steel every year.

Initiatives

Jindal Panther TMT Rebars: JSPL has entered the construction retail industry by introducing Jindal Panther TMT Rebars for housing projects. These rebars are made in a 1.0 million tons per annum (MTPA) capacity TMT Rebar mill in Patratu, Jharkhand, which is supplied by Siemens.

Jindal Institute of Power Technology (JIPT): JIPT was established to train power plant professionals for power companies in India and abroad. Graduates of the course are authorized to operate or maintain parts or entire power generating stations with a capacity of 100 MW or more, along with associated substations. It’s supported by Jindal Power Limited and promoted by Jindal Education & Welfare Society. The institute has a simulator for 250 MW and 600 MW generating units. JIPT is situated at the Jindal Tamnar Thermal Power Plant in Tamnar, Raigarh, Chhattisgarh.

Controversies

Involvement in coalgate scam

In the Coalgate scandal, Jindal Steel and Power was one of the two private companies that received a coal field in February 2009. JSPL acquired the Talcher coal field in Angul, which had reserves of 150 crore (1,500 million) metric tonnes, after the Central Government’s cut-off date. Meanwhile, the Government-run Navratna Coal India Ltd was denied access to these fields.

Both coal blocks were located in Odisha and were valued at over ₹2 lakh crore. They were intended for coal liquefaction. Opposition parties accused the government of violating norms to grant these coal fields. Naveen Jindal, however, denied any wrongdoing.

Iron ore reserve mining in Bolivia

On June 3, 2006, Bolivia gave Jindal Steel development rights for one of the world’s largest iron ore reserves in the El Mutún area. With an initial investment of US$1.5 billion, the company intended to invest an extra US$2.1 billion over the following eight years in Bolivia.

However, Jindal Steel is considering ending the contract to invest $2.1 billion in constructing a steel plant in Bolivia because the Bolivian Government hasn’t fulfilled its contractual duties.

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