Eyeing turnaround, JSPL to expand Odisha steel plant capacity to 20 mtpa

Out of total Rs 420 billion loan liability of the group, the Angul steel complex where JSPL has invested Rs 350 billion, accounted for Rs 240 billion debt

Bringing cheers to the debt-straddled Jindal Steel and Power (JSPL) group, its flagship 6 million tonne steel project at Angul in Odisha, which accounted for the most of the debt pile of the company, has started making operational profit from this month after four and half years of going into operation.

Encouraged by this turnaround, the company now plans to expand the capacity of the project to 20 million tonne of finished steel by 2030 at an additional investment of Rs 450 billion.

“We have learnt our lessons from the difficulties of operating with a high debt stock and won't go for