Jindal Steel and Power Ltd (JSPL), which is setting up a six million tonne integrated steel plant here, has achieved a major milestone with the commissioning of its 5 metre wide Plate Mill, claimed to be the widest in the country.
The Plate Mill, with annual capacity of 2 million tonne, targets to produce 15,000 tonne of steel plates in the next month. The production will be stepped up gradually, says a company release. This is a forward integration project of the company’s integrated steel complex, completing the process chain to produce value-added finished discrete plates.
The Plate Mill was set up along with 1.6 million tonnes per annum Steel Melting Shop (SMS) at a combined project cost of Rs 4,923 crore. SMS is likely to be commissioned by the end of the current financial year.
The project has been funded with a debt equity ratio of 2 : 1. The debt component of Rs 3,282 crore is sourced from a consortium of banks which includes SBI, PNB, Vijaya Bank etc.
The plates produced by the mill will be used in oil and gas sector, water pipelines, ship building, infrastructure and power equipment manufacturing etc.
The technology and equipments for the plant has been supplied by Siemens VAI, UK.
