Despite lockdown JSPL-Angul records highest ever production

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Bhubaneswar: Despite the lockdown, Jindal Steel & Power Limited (JSPL)’s Angul plant has recorded the highest ever production of 298,000 MT of hot metal during April 2020. The Blast furnace, regarded as India’s largest, has maintained an average production of more than 10,000 MT on a working day basis.

With this achievement, JSPL has reported 5% growth (y-o-y) in the production of steel & granulated pig iron to 550,000 MT during April. The Group has recorded 655,000 MT of consolidated steel production during the month.

In the sales front, exports contributed about 74% of the company’s monthly sales mainly as the domestic market remained closed due to the lockdown. The company exported 248,000 MT of steel & related products, which is a growth of 109% (m-o-m).

“JSPL, has effectively and appropriately addressed the domestic demand situation and formulated Business Continuity Strategy and subsequently secure full export order book to ensure continuous operation of its plant. Our team continuously looks forward to opportunities, this is why even during the COVID crisis, JSPL is exporting steel to China, Malaysia, Germany, Spain, Italy, Denmark, France, Saudi Arabia, Oman, Qatar, and UAE. We are also catering to the prestigious export order of Rail blooms from France to manufacture Rails in France for high-speed railways” said  VR Sharma, Managing Director – JSPL.

JSPL reported standalone sales of 335,000 MT, the balance production is under shipment and stocked at the port waiting for vessels, which will be accounted in the month of May 2020. JSPL recorded consolidated sales of 456,000 MT during April 2020.

JSPL’s Oman Steel plant reported 106,000 MT of steel production while steel sales stood at 120,000 MT in April 2020. JSPL has also developed R 260 Grade of rails for Indian Railways; these rails have carriage capacities of 75 ton per wagon, as compared to 64 ton per wagon for ordinary rails. JSPL has also developed a sour grade application plate and round billets.

“The Covid-19 pandemic surfaced in India and sparked off a crisis of significant proportions. By the third week of March 2020, this began impacting economic activity with the announcement of nationwide mandatory and complete lockdown” JSPL said.

 

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