JSPL looks to spread wings
Jindal Steel & Power plans to enter coal mining, power trading and chartered air services.
By Vivek Sinha, TNN |
NEW DELHI: Naveen Jindal-led Jindal Steel & Power (JSPL) is diversifying beyond steel manufacturing and power generation. The company is planning to get into coal mining in overseas markets, coal and power trading and chartered air services.
Moreover, JSPL is also expanding its product basket beyond traditional long steel products to all key categories of flat steel products in its upcoming greenfield plant at Angul in Orissa.
JSPL is looking at the chartered airline business. The company has a few aircraft for its own use and has often leased them to India Flysafe, a professionally-managed air service operator. Now, JSPL is planning to be a non-scheduled operator itself for better utilisation of its existing fleet.
After signing the $2.1-billion iron ore mining contract and an integrated steel manufacturing project in Bolivia, the company is now looking at other opportunities overseas, including coal and diamond mining.
“We have already started diamond exploration in Chhatisgarh and Congo in Africa and also eyeing coal mining opportunities in Australia, Indonesia and Africa. The coal would be used for the two businesses, steel manufacturing and power generation. In addition, we will also look at coal trading in future,” said JSPL vice-chairman and CEO Vikrant Gujral.
JSPL, which plans to commission a 250-MW power generation capacity every quarter starting next month, is also eyeing power trading as a business, going forward. Jindal Power, a subsidiary of JSPL, is setting up a 1,000-MW power project at Raipur.
JSPL is also going to expand its product portfolio once the greenfield plant comes up in Orissa. This unit will have the capacity to produce 6 million tonne of steel. It will include flat products such as HR and CR steel, besides steel plates, which the company is already making at its Chhatisgarh plant. This apart, JSPL has plans to set up a 6 million tonne steel plant in Jharkhand.
Moreover, JSPL is also expanding its product basket beyond traditional long steel products to all key categories of flat steel products in its upcoming greenfield plant at Angul in Orissa.
JSPL is looking at the chartered airline business. The company has a few aircraft for its own use and has often leased them to India Flysafe, a professionally-managed air service operator. Now, JSPL is planning to be a non-scheduled operator itself for better utilisation of its existing fleet.
After signing the $2.1-billion iron ore mining contract and an integrated steel manufacturing project in Bolivia, the company is now looking at other opportunities overseas, including coal and diamond mining.
“We have already started diamond exploration in Chhatisgarh and Congo in Africa and also eyeing coal mining opportunities in Australia, Indonesia and Africa. The coal would be used for the two businesses, steel manufacturing and power generation. In addition, we will also look at coal trading in future,” said JSPL vice-chairman and CEO Vikrant Gujral.
JSPL, which plans to commission a 250-MW power generation capacity every quarter starting next month, is also eyeing power trading as a business, going forward. Jindal Power, a subsidiary of JSPL, is setting up a 1,000-MW power project at Raipur.
ADVERTISEMENT
JSPL is also going to expand its product portfolio once the greenfield plant comes up in Orissa. This unit will have the capacity to produce 6 million tonne of steel. It will include flat products such as HR and CR steel, besides steel plates, which the company is already making at its Chhatisgarh plant. This apart, JSPL has plans to set up a 6 million tonne steel plant in Jharkhand.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
