The furnace meant to be lit up on 30 December 2023, will boost production by 2 lakh tonnes of hot metal per month.
The collaboration with RINL will result in release of additional liquid steel for slab casting and onward rolling into hot rolled coils from JSPL’s upcoming hot strip mill at Angul which is slated for commissioning soon.
Jindal Steel & Power (JSPL) is a leading Indian infrastructure conglomerate with a presence in the steel, power, and mining sectors.
Jindal Steel & Power’s consolidated net profit surged to Rs 1,387.82 crore in Q2 FY24 from Rs 219 crore in Q2 FY23. However, revenue from operations fell 9.4% to Rs 12,250.16 crore in the quarter ended 30 September 2023.
The scrip rose 0.65% to currently trade at Rs 731.60 on the BSE.