ALSO READIndia Inc's $1.5-bn Oman investment proposals likely to take off in 2018 JSPL successfully completes Basic Oxygen Furnace in Odisha plant JSPL's interest payment delays due to cash flow mismatches: Naveen Jindal Jindal Steel and Power Q2 loss narrows to Rs 499 cr Naveen Jindal likely to take over as MD after Ravi Uppal's exit
"We will raise Rs 10 billion by equity sale next month," Jindal told PTI.
He also said there is a plan to raise another Rs 15 billion- 20 billion in just four months by listing Oman operations on foreign exchanges.
A source privy to the development said: "The company is evaluating options of listing in London, Dubai or Muscat".
The domestic capacity, he said, will reach 9 MT by March-end and "Angul will reach its full capacity by May, India will be number 2 position in the world in steel making. I am sure other people will also increase their capacity. I feel by May, India will definitely be number 2 (by then)".
The company has a 2 MTPA integrated steel plant at Sohar, Oman where it had recently commissioned a 1.5 MTPA Bar Mill. It had also launched Jindal Panther TMT Rebar brand in the middle east markets. JSPL had acquired Shadeed Iron and Steel in 2010.
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