By Our Correspondent
MUMBAI/NEW DELHI/BHUBANESWAR: Naveen Jindal owned Jindal Steel & Power Ltd, which already received orders to supply head hardened Rails for the Metro Rail Corporation in Pune, Konkan and West Bengal, is in touch UP- Karnataka Government for Metro Rail Projects, sources said on Thursday.
JSPL’s Managing Director, VR. Sharma in an event organised by the CII on ‘What’s next for Steel, said JSPL is also in touch with the Uttar Pradesh and Karnataka Government for metro rail projects. The company along with SAIL is looking to be a regular supplier for Indian Railways.
He also said JSPL getting enquiries from companies like L&T and Kalpataru but the company have received orders to supply head hardened rails for the metro rail corporation in Pune, Konkan and West Bengal.
“Tamil Nadu should pay too whatever Chhattisgarh or Odisha is paying. To attract more MSMEs in India, power tariffs should get uniform. One state it is Rs 4 per Kilowatt hour and other it is Rs 14 per,” said JSPL MD Sharma. Cheap electricity will bring down the cost of production, which will encourage MSMEs, he said.
The Steel sector needs more investment to develop greenfield projects, said Sharma. “We need to bring in either more foreign investments into India, or the existing players like Reliance or Dalmia, should diversify their sectors and come into the steel industry”.
JSPL which is running big plants at Raigarh in Chhattisgarh an Angul in Odisha, has recorded production of 6.65 lakh mt of Pellets in May. JSPL has also recorded the highest ever standalone steel sales of 0.64 million tonnes in May, marking a growth of 28 per cent as compared to sales of 0.5 million tonnes during the same period of previous year.
Out of 0.64 million tonnes of total standalone sales, 0.40 million tonnes are export sales. The company recorded consolidated steel sales of 0.79 million tonnes which is a growth of 26 per cent as compared to sales of 0.63 lmillion tonnes during the same period of previous year. JSPL recorded consolidated steel production of 0.62 million tonnes in May.
JSPL’s standalone steel sales, almost 28% rise to 640,000 tonnes in May 2020, as compared to sales of 500,000 tonnes during the same period in the previous year. “Out of 6, 40,000 tonnes, 4,01,000 tonnes are export sales,” sources said on Friday. Company’s consolidated sales in May rose 26% to 7.96 lakh tonnes as compared with 6.31 lakh tonnes in the corresponding month of 2019.
It has recorded highest ever standalone steel sales, almost 28% rise to 640,000 tonnes in May 2020, as compared to sales of 500,000 tonnes during the same period in the previous year. “Out of 6, 40,000 tonnes, 4,01,000 tonnes are export sales.Company’s consolidated sales in May rose 26% to 7.96 lakh tonnes as compared with 6.31 lakh tonnes in the corresponding month of 2019.
