Jindal Steel and Power (JSP) will commission a two million tonnes per annum capacity plant in Oman in October 2013, which the company claims will be the largest steel plant in the Gulf
JSP managing director and CEO Ravi Uppal said, ?In Oman, we are commissioning the steel melting shop in October.
?We have also placed orders for bar and rod mills. Steel melting shop will produce billets and next logical step is to make bar and rods, long products.?
The Naveen Jindal-led company had acquired Shadeed Iron and Steel in Oman in May, 2010 from Abu-Dhabi's Al Ghaith Holdings for about US$500mn. It is estimated to have invested another US$500mn in developing the facilities there, which included a 1.5mn tonnes per annum DRI/HBI plant and the upcoming two million tonnes per annum steel plant. The company has plans to expand it further, depending upon the demand in the region.
According to Uppal, 2014-15 will be a turning point in JSP?s history as the company will be more than doubling its steel production and power generation capacities during the period.
While the steel production capacity will go up from existing 3.5mn tonnes per annum to 7.5mn tonnes per annum, power generation capacity wil be expected to increase to 5,000MW from existing 2,500MW.
