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

Navi MumbaiRare Olive Ridley Turtle Travels 3,500 km to Lay Eggs on Maharashtra’s Guhagar Beach

MumbaiMumbai: DRI Busts Gold Smuggling Racket at Airport; Disabled Passenger Caught with Gold in Shoes

NationalRam Navami 2025: Odisha-Based Miniature Artist Ishwar Rao Crafts Smallest Idols of Lord Ram, Sita, Lakshman and Hanuman

NationalMassive Gold Reserves Discovered In Odisha, Promising Economic Growth for India

NationalOdisha Train Accident: Eleven Coaches of Bangalore-Kamakhya Express Derail Near Cuttack (Watch Video)

National Realted Stories

NationalFive Bangladeshi nationals pushed back for illegal infiltration: Assam CM

National‘Not just half an hour, but Pakistan is half a century behind India’: Owaisi

NationalWords of PM Modi resonate with spirit of seva and nation-building: Tripura CM Saha

National19 people arrested for ‘pro-Pakistan’ stand: Assam CM

NationalSecurity forces kill three NSCN (KYA) militants in Arunachal; rescue construction worker