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JSPL Partners with RINL to Ensure Steel Supply for Angul Hot Strip Mill
Jindal Steel Power Ltd (JSPL) has announced a partnership with Rashtriya Ispat Nigam Ltd (RINL) to secure the supply of liquid steel for its upcoming hot strip mill in Angul, Odisha. According to a memorandum of understanding (MoU) signed between the two companies, RINL’s blast furnace-3 (BF-3) will be operationalized for this purpose.
The alliance with RINL will enable JSPL to access additional liquid steel required for slab casting and subsequent rolling into hot rolled coils at their state-of-the-art mill in Angul, which is set to commence operations soon. RINL’s BF-3, located at their Visakhapatnam plant, has been non-operational since January 2021 but is scheduled to restart on December 30, 2023, with a projected capacity of 2 lakh tonnes of hot metal per month.
JSPL’s Managing Director, Bimlendra Jha, expressed well-wishes to RINL’s management and employees for embarking on this collaboration. In return for JSPL’s support, RINL will ensure the supply of 90,000 tonnes of cast blooms to JSPL.
Furthermore, JSPL recently expanded the capacity of its Angul plant from 5.6 million tonnes per annum (MTPA) to 11.6 MTPA. This development positions JSPL as a major player in the steel manufacturing industry.
Rashtriya Ispat Nigam Ltd, under the Ministry of Steel, is one of the leading steel manufacturing companies in India, operating three blast furnaces of 2.5 million tonnes each at its Visakhapatnam facility in Andhra Pradesh.
In related news, JSPL and RINL have also entered into a pact where JSPL will provide working capital support or raw material supply worth Rs 800-900 crore to RINL. This collaboration highlights the synergy between the two companies and their commitment to strengthening the steel industry in India.
The news was first published on December 23, 2023, at 5:42 PM IST.,
Jindal Steel and Power Limited (JSPL) and Rashtriya Ispat Nigam Limited (RINL) have entered into a strategic agreement to ensure a steady supply of liquid steel to JSPL’s upcoming plant in Angul. This collaboration aims to enhance the efficiency and sustainability of steel production in India.
Under this partnership, RINL will supply JSPL with liquid steel from its Visakhapatnam Steel Plant, which will be transported via rail to the Angul plant. This arrangement will significantly reduce the transportation cost and time, ensuring a seamless supply chain for JSPL.
The Angul plant, with a capacity of 6 million tonnes per annum, is expected to become one of the largest steel manufacturing facilities in India. By securing a reliable source of liquid steel, JSPL will be able to boost its production and meet the growing demand for steel in the country.
This collaboration between JSPL and RINL showcases the industry’s commitment to fostering synergies and achieving sustainable growth in the steel sector. It will contribute to strengthening India’s self-reliance in steel production and drive the nation’s economic development.
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