JSPL rises almost 2.5%

Jindal Steel & Power Ltd (JSPL) rose almost 2.5% today to Rs.144.45. Its 52-week high is at Rs.190.45 and low at Rs.91.10.

The company announced today morning that it has commissioned its 4th Coke Oven Battery at Angul plant making it self-sufficient in coke requirement.

The Coke Oven consists of 4 nos. batteries of 45,000 tons each per month will be producing a total coke of 2.0 MTP A.

This plant is feeding Coke to India's largest Blast Furnace having 4554 cubic meter volume which is already in operation at Angul and 2 Blast Furnaces at Raigarh in Chattisgarh.

JSPL conceived and commissioned the world's first Syn. Gas-based DRI plant at Angul. The plant is based on a concept of making steel through Coal Gas based DRI and EAF route using high ash Indian coal to produce Syn. Gas for DRI.

Just before the commissioning of the plant, the coal mines allocated to JSPL to run its Gasification plant were Cancelled by the Hon'ble Supreme Court. This setback compelled JSPL to install a conventional steel making facility through BF/ BOF route.