City
Epaper

Jindal seeks raw material security for Odisha steel plants

By IANS | Updated: September 7, 2019 22:25 IST

Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal on Saturday requested the Odisha government to ensure raw material security for steel plants in the state.

Open in App

Jindal also requested reserving iron ore mines for companies which have set up steel plants in Odisha.

He had a meeting with Chief Secretary Asit Kumar Tripathy and other secretaries concerned here.

"Companies which have invested thousands of crores in steel plants and have created employment in thousands should be given preference in iron ore auction. We have requested for giving iron ore mines first for captive consumption and then for merchant mining," said Jindal during interaction with media after the meeting.

JSPL has invested Rs 47,000 crore in Odisha to set up the largest steel plant in the state.

But it has very small mines which are near depleted and it does not have captive iron ore and coal mines for the plant, said sources.

"Our investment in Odisha needs raw material security to become viable," said JSPL Chairman.

He also said that JSPL buys about 1 million tonnes of iron ore every month in Odisha.

"This makes JSPL the largest buyer of iron ore in the state," he added. He also demanded reduction in iron ore prices because of fall in global steel prices.

"Steel price has been reduced by about 30 per cent. But iron ore price has not been reduced accordingly. There is no reduction in price of coal by Coal India. The government needs to ensure that people who have invested in the state are taken care of," Jindal commented.

For the first time in the world, JSPL has set up a coal gasification plant along with a 2 MTPA DRI plant on the basis of the coal block allotted to it in Angul.

Since the coal block was cancelled by the Supreme Court, Jindal was hopeful that the company would get a block if the central government auctions the coal block for steel companies and coal gasification.

( With inputs from IANS )

Tags: JsplJindalodishaDRI
Open in App

Related Stories

NationalOdisha Crime: Couple Arrested For Defrauding Investors of Rs 20 Crore in Trading Scam

MumbaiMumbai: DRI Arrests Two Chemical Traders for ₹22 Crore Customs Duty Evasion on Chinese Imports

MumbaiDRI Seizes 128 kg Mephedrone Worth Rs 192 Crore from Wardha Factory; Three Arrested

NationalOdisha Shocker: Son Sets Mother on Fire After She Refuses Money for Liquor in Bhadrak

CricketIND vs SA: OCA Offers First Match Ticket to Lord Jagannath Ahead of 1st T20I in Odisha

National Realted Stories

NationalKerala court orders return of actor Dileep's passport

National'Be alive to ground realities': SC refuse to entertain PIL challenged bottled water standards

NationalMessi event chaos: Bengal DGP among three top officials submit replies to show-cause notices

NationalVijay calls DMK 'destructive power’ at Erode rally, says TVK force of purity

NationalInside the ISI playbook: Jamaat, NCP, and the plan to rig the Bangladesh elections