Jindal Steel to set up 2 aluminum plants in AP, Gujarat
Jindal Steel Works Ltd plans to set up two aluminium plants in Andhra Pradesh and Gujarat at a cost of Rs 15,000 crore, a top company official said on Friday.
By PTI |
CHENNAI: Jindal Steel Works Ltd plans to set up two aluminium plants in Andhra Pradesh and Gujarat at a cost of Rs 15,000 crore, a top company official said on Friday.
Jindal Steel has signed an MoU to this effect with both the state governments and land has been identified for the projects, Sajjan Jindal, Vice Chairman and MD told reporters on the sidelines of inaugurating a workshop on "Steel in Construction" here.
He said work on one of the projects will take-off by this year end. The Rs 5,000 crore Gujarat plant will be a 0.7 million tonne aluminium refinery and a 0.25 million tonne aluminium smelter.
The Andhra Pradesh plant, which would come up in Visakhapatnam at an investment of Rs 10,000 crore, will have a 1.4 million tonne aluminium refinery and 0.50 million tonne aluminium smelter.
The projects will be executed by GHW Aluminium, he said.
Jindal Steel is also in discussions for setting up a plant in Bolivia, he said.
On the steel industry in India, Jindal said POSCO's entry into the country would fuel competition and also open up marketing opportunities. Most of the steel companies here did not focus on marketing, he said.
Earlier, inaugurating the workshop, he said steel needs to be promoted as a medium of construction. "Steel has a variety of uses and can be used for a lot of things," he said.
Jindal said "As the economy grows, the consumption of steel takes a sharp curve upwards." He said China which was consuming less than 100 million tonnes of steel was now consuming 400 million tonnes of steel.
In India, "the Ministry of steel has kept a target of reaching 110 million tonnes by 2020, but we should get there by 2015," he said.
Jindal Steel has signed an MoU to this effect with both the state governments and land has been identified for the projects, Sajjan Jindal, Vice Chairman and MD told reporters on the sidelines of inaugurating a workshop on "Steel in Construction" here.
He said work on one of the projects will take-off by this year end. The Rs 5,000 crore Gujarat plant will be a 0.7 million tonne aluminium refinery and a 0.25 million tonne aluminium smelter.
The Andhra Pradesh plant, which would come up in Visakhapatnam at an investment of Rs 10,000 crore, will have a 1.4 million tonne aluminium refinery and 0.50 million tonne aluminium smelter.
The projects will be executed by GHW Aluminium, he said.
Jindal Steel is also in discussions for setting up a plant in Bolivia, he said.
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On the steel industry in India, Jindal said POSCO's entry into the country would fuel competition and also open up marketing opportunities. Most of the steel companies here did not focus on marketing, he said.
Earlier, inaugurating the workshop, he said steel needs to be promoted as a medium of construction. "Steel has a variety of uses and can be used for a lot of things," he said.
Jindal said "As the economy grows, the consumption of steel takes a sharp curve upwards." He said China which was consuming less than 100 million tonnes of steel was now consuming 400 million tonnes of steel.
In India, "the Ministry of steel has kept a target of reaching 110 million tonnes by 2020, but we should get there by 2015," he said.
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