Jindal Steel and Power

Last updated

Jindal Steel and Power
Company type Public
ISIN INE749A01030
Industry Steel, Energy
Founder O P Jindal
Headquarters New Delhi, India [1]
Area served
Worldwide
Key people
 Naveen Jindal (Chairman) [2]
Bimlendra Jha [2] (MD)
Products Steel, Iron, Electricity generation and distribution
RevenueIncrease2.svg₹52,768.23 crore (US$6.6 billion) (2023) [3]
Decrease2.svg₹4,485.49 crore (US$560 million) (2023)
Decrease2.svg₹3,974.09 crore (US$500 million) (2023)
Total assets Decrease2.svg₹69,427.23 crore (US$8.7 billion) (2023)
Total equity Decrease2.svg₹39,019.03 crore (US$4.9 billion) (2023)
Number of employees
21,000 (2022)
Subsidiaries Jindal Petroleum Limited
JSPL Machinery
Jindal Cement
Jsp Metallics Limited
Jindal Infosolutions Ltd
Jindal Synfuels Ltd
Jindal Minerals & Metals
Jindal Power
Raigarh Pathalgaon Expressway Ltd.
Website jindalsteelpower.com

Jindal Steel and Power Limited (JSPL) is an Indian steel company based in New Delhi. [4] JSPL is a part of OP Jindal Group. [5]

Contents

In terms of tonnage, it is the third largest private steel producer in India and only private player in India to produce rails. The company manufactures and sells sponge iron, mild steel slabs, rails, mild steel, structural, hot rolled plates, iron ore pellets and coils. [6] Jindal Steel and Power set up the world's first coal-gasification based DRI plant at Angul, Odisha that uses the locally available high-ash coal and turns it into synthesis gas for steel making, reducing the dependence on imported coke-rich coal. JSPL's coal gas-based steel tech became a case study at Harvard University. [7]

Operations

Angul

Recently Union steel minister Ram Chandra Prasad Singh inaugurated Jindal Steel's 1.4 MTPA TMT rebar mill at its integrated complex in Odisha's Angul district. [8]

Barbil

JSPL's pellet plant at Barbil has a total installed capacity of 9 MTPA [9] production for different pellet grades. The plant includes a dry grinding facility that harnesses the recuperation type of straight grate technology.[ citation needed ]

Patratu

JSPL's manufacturing facility at Patratu, Jharkhand has a total finished steel capacity of 1.6 MTPA. [10]

Listings and shareholding

The equity shares of JSPL are listed on the Bombay Stock Exchange [11] and the National Stock Exchange of India. [12]

Shareholding: On 31 March 2022, the promoter group Jindal Group held 60.5% of its equity shares. 27% of the shares were owned by the Institutional Investors. Public shareholders own approx. 12.5% of its shares. [13] [14]

Shareholders (as on 31-March-2022)Shareholding [13] [14]
Promoter Group (Jindal Family)60.45%
Foreign Institutional Investors (FII)/NRI/OCB/Trusts/Foreign national 9.7%
Public12.5%
Financial Institutions/Banks/Mutual Funds/UTI/Insurance companies/Central Government27%
Total100.0%

Initiatives

Jindal Panther TMT Rebars
JSPL has forayed into construction retail industry with the launch of Jindal Panther TMT Rebars for the housing segment. These rebars are manufactured in 1.0 MTPA capacity TMT Rebar mill at Patratu, Jharkhand, supplied by Siemens. [15]

Jindal Institute of Power Technology (JIPT)
JIPT was established to develop a pool of technically trained power plant professionals for power utilities of India and abroad. The course authorizes the pass outs to operate or undertake maintenance of any part or whole of a generating stations of capacity 100 MW & above together with the associated sub stations.[ citation needed ]

It is promoted by Jindal Education & Welfare Society, which is supported by Jindal Power Limited. The Institute possesses a simulator of 250 MW/600 MW generating units. JIPT is located in the 4X250, 4X600 MW Jindal Tamnar Thermal Power Plant in Tamnar, Raigarh, Chhattisgarh.[ citation needed ]

Controversies

Involvement in coalgate scam
Jindal Steel and Power was one of the two private companies to get a coal field in February 2009. JSPL got the Talcher coal field in Angul with reserves of 150 crore (1,500 million) metric tonnes after the cut-off date by the Central Government, while the Government-run Navratna Coal India Ltd was refused. [16]

Both the blocks were in Odisha, with a combined worth of over ₹2 lakh crore and were meant for liquification of coal. The opposition parties alleged that the Government violated all norms to grant the coal fields. Naveen Jindal, however, denied any wrongdoing. [17]

Iron ore reserve mining in Bolivia
On 3 June 2006, Bolivia granted development rights for one of the world's largest iron ore reserves in the El Mutún region to Jindal Steel. With an initial investment of US$1.5 billion, the company plans to invest an additional US$2.1 billion over the next eight years in the South American country. [18]

Jindal Steel is likely to terminate the contract of investing $2.1 billion in setting up a steel plant in Bolivia, due to non-fulfilment of contractual obligations by the Bolivian Government. [19]

Related Research Articles

Kalinganagar is a planned industrial town in Jajpur district of coastal Odisha, India. Kalinganagar is emerging to be major global hub in steel, power and ancillary products. A large number of steel plants including projects by Jindal Steel and Tata Steel are in various stages of implementation.

<span class="mw-page-title-main">Naveen Jindal</span> Indian politician

Naveen Jindal is an Indian billionaire industrialist, philanthropist, and a former Member of Parliament, Lok Sabha from Kurukshetra, Haryana in the 14th and 15th Lok Sabha. He currently serves as the Chairman of Jindal Steel and Power Limited and Chancellor of O. P. Jindal Global University.

<span class="mw-page-title-main">Tata Power</span> Indian electric utility company

Tata Power Company Limited is an Indian electric utility and electricity generation company based in Mumbai, India and is part of the Tata Group. With an installed electricity generation capacity of 14,110 MW out of which 5250 MW is from Non-Conventional(Green Energy) sources rest from thermal, making it India's largest integrated power company. In February 2017, Tata Power became the first Indian company to ship over 1 GW solar modules.

National Aluminium Company Limited is an Indian public sector company having integrated and diversified operations in mining, metal and power. Presently, the Government of India holds a 51.28% equity stake in NALCO, while the Ministry of Mines has administrative control over the company.

El Cerro Mutún (Spanish for "the Mountain Mutún") is an iron ore deposit. Located in the Germán Busch Province in the Santa Cruz Department of Bolivia, near Puerto Suárez, it extends across the border into Brazil, where it is called the Serrania de Jacadigo. Also known as the "Serrania Mutún", it has an area of about 75 square kilometers. Its estimated reserves are about 40.205 billion (40.205 × 109) tons of iron ore of 50% iron, mainly in hematite and magnetite form, and in lesser quantities in siderite and manganese minerals. This can be compared with an estimate of the total world reserves of iron ore: 800 billion tons of crude ore containing more than 230 billion tons of iron.

<span class="mw-page-title-main">Energy in India</span> Overview of the production, consumption, import and export of energy and electricity in India

Since 2013, total primary energy consumption in India has been the third highest in the world after China and United States. India is the second-top coal consumer in the year 2017 after China. India ranks third in oil consumption with 22.1 crore tons in 2017 after United States and China. India is net energy importer to meet nearly 47% of its total primary energy in 2019.

<span class="mw-page-title-main">JSW Steel</span> Indian multinational steel company

JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.

<span class="mw-page-title-main">JSW Group</span> Indian multinational conglomerate

JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and is part of the O.P. Jindal Group. The group's diverse businesses include steel, energy, infrastructure, cement and paints, across India, the United States, South America, and Africa.

<span class="mw-page-title-main">Rourkela Steel Plant</span> Indian integrated steel plant

Rourkela Steel Plant (RSP), is a public sector, integrated steel plant in Rourkela, Odisha state, India. It was established on 3 February 1959 with the help of West German industrial corporations on approximately 19,000 acres of land acquired from tribal inhabitants. The plant is operated by the Steel Authority of India (SAIL), a Central PSU.

The Coal allocation scam, dubbed in media as Coalgate, is a major political scandal concerning the Indian government's allocation of the nation's coal deposits to public sector enterprise (PSEs) and private companies. In a draft report issued in March 2012, the Comptroller and Auditor General of India (CAG) office accused the Government of India of allocating coal blocks in an inefficient manner during the period 2004–2009. Over the Summer of 2012, resulting in a Central Bureau of Investigation probe into whether the allocation of the coal blocks was in fact influenced by corruption.

Odisha Power Generation Corporation Limited (OPGC) is the only thermal power generating company owned by the Government of Odisha. It was incorporated under the Companies Act 1956 on 14 November 1984. OPGC started as a solely owned Government Company of the state of Odisha. It owns and operates four units of power plant- 2 units of 210 MW each and 2 units of 660 MW, each totaling a generation capacity of 1740 MW of power at Ib Thermal Power Station (ITPS), Banharpali in Jharsuguda District of Odisha. The generation from these units is committed to GRIDCO on the basis of a long-term Power Purchase Agreement.

<span class="mw-page-title-main">Jharsuguda–Vizianagaram line</span> Railway line in India

The Jharsuguda–Vizianagaram line is a railway line in eastern India. It connects Jharsuguda,516 km (321 mi) from Howrah on the Howrah–Nagpur–Mumbai line, and Titlagarh, which in turn is connected with Vizianagaram, 820 km (510 mi) from Howrah on the Howrah–Chennai main line, and Raipur Junction, 830 km (516 mi) from Howrah on the Howrah–Nagpur–Mumbai line. There are several branch lines, like the 176 km (109 mi) line connecting Rayagada with Koraput on the Kothavalasa–Kirandul line. The line traverses Western Odisha and connects the Howrah–Nagpur–Mumbai line with the Howrah–Chennai main line. It covers small portions of Chhattisgarh and Andhra Pradesh.

Jindal Tanmar Thermal Power Plant is a coal-based thermal power plant located in Tamnar village near Raigarh town in Raigarh district in the Indian state of Chhattisgarh. The power plant is operated by the Jindal Power Limited which is a subsidiary of Jindal Steel and Power.

Patratu Thermal Power Station is a coal-based thermal power plant located near Patratu town in Ramgarh district in the Indian state of Jharkhand. The power plant is operated by the Jharkhand State Electricity Board.

Angul Thermal Power Station is a coal based thermal power project located at Derang village in Angul district in Indian state of Odisha. The power plant is one of the coal based power plants of Jindal India Thermal Power Limited.

Angul Airport, also called Savitri Jindal Airport is a private airport owned by Jindal Steel and Power under DGCA license and located at Angul in the Angul district of Odisha, India. The airport is named after the Jindal group businesswoman and the richest woman in India, Savitri Jindal. The nearest airfield is Phulbani Airstrip in Phulbani, Odisha.

<span class="mw-page-title-main">Iron and steel industry in India</span>

The Iron and Steel industry in India is among the most important industries within the country. India surpassed Japan as the second largest steel producer in January 2019. As per worldsteel, India's crude steel production in 2018 was at 106.5 tonnes (MT), 4.9% increase from 101.5 MT in 2017, which means that India overtook Japan as the world's second largest steel production country. Japan produced 104.3 MT in year 2018, decrease of 0.3% compared to year 2017.

Sunderpahari is a village in the Sunderpahari CD block in the Godda subdivision of the Godda district in the Indian state of Jharkhand.

Ramgarh subdivision is an administrative subdivision of the Ramgarh district in the North Chotanagpur division in the state of Jharkhand, India.

<span class="mw-page-title-main">Shyam Metalics and Energy</span> Indian metal company

Shyam Metalics and Energy Ltd. (SMEL) is an Indian metal producing company, headquartered in Kolkata, West Bengal. The company produces long product structural steel, ferro alloys, pellet and sponge iron.

References

  1. ↑ "Jindal Steel Power || Home". Archived from the original on 22 February 2014. Retrieved 24 September 2010.
  2. 1 2 "Management Details". Jindal Steel and Power. Archived from the original on 12 May 2020. Retrieved 5 June 2020.
  3. ↑ "Jindal Steel and Power Ltd. Financial Statements" (PDF). jindalsteelpower.com. Archived from the original on 16 May 2023. Retrieved 16 May 2023.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  4. ↑ "Jindal Steel & Power on the Forbes Global 2000 List". Forbes. 31 May 2013. Archived from the original on 2 December 2013. Retrieved 1 December 2013.
  5. ↑ Lancelot Joseph (28 June 2021). "Amazing turnaround of JSPL". businessindia.co. Archived from the original on 19 May 2022. Retrieved 29 June 2022.
  6. ↑ "Jindal Steel & Power Ltd". Business Standard India. Archived from the original on 9 February 2022. Retrieved 9 February 2022.
  7. ↑ "JSPL's coal gas-based steel tech in Harvard case study". Business Standard India. Press Trust of India. 18 January 2015. Archived from the original on 8 June 2022. Retrieved 29 June 2022.
  8. ↑ Ujjval Jauhari (30 April 2022). "Steel minister inaugurates Jindal Steel's TMT rebar mill in Angul, Odisha". livemint.com. Archived from the original on 2 July 2022. Retrieved 29 June 2022.
  9. ↑ "JSPL's Barbil Pellet plant achieves rare production feat". The Pioneer. 28 April 2019. Archived from the original on 29 June 2022. Retrieved 29 June 2022.
  10. ↑ "Naveen Jindal visits steel plant at Patratu". Times of India. 2 April 2022. Archived from the original on 29 June 2022. Retrieved 29 June 2022.
  11. ↑ "Jindal Steel and Power Limited". BSEindia.com. Archived from the original on 3 December 2013. Retrieved 2 December 2013.
  12. ↑ "Jindal Steel and Power Limited". NSE India. Archived from the original on 3 December 2013. Retrieved 2 December 2013.
  13. 1 2 "Annual Report 2020-21" (PDF). Jindal Steel and Power. Archived (PDF) from the original on 30 October 2022. Retrieved 29 June 2022.
  14. 1 2 "Shareholding pattern". BSE India. 29 June 2022. Archived from the original on 12 March 2023. Retrieved 29 June 2022.
  15. ↑ "JSPL launches 'Jindal Panther' TMT Rebars". 8 August 2013. Archived from the original on 22 February 2014. Retrieved 24 February 2014.
  16. ↑ "Coalgate: Norm violated by government to favour Naveen Jindal". IBN Live. 6 September 2012. Archived from the original on 8 December 2013. Retrieved 1 December 2013.
  17. ↑ "Congress MP Naveen Jindal blames government for coalgate". IBN Live. 7 September 2012. Archived from the original on 8 December 2013. Retrieved 1 December 2013.
  18. ↑ "India's Bolivian ore". The Australian. 3 December 2007. Archived from the original on 11 August 2011. Retrieved 11 September 2013.
  19. ↑ "Jindal Steel to exit from $2-b mining contract with Bolivia". 9 June 2012. Archived from the original on 11 June 2012. Retrieved 9 June 2012.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.