Bhubaneswar: Jindal Steel and Power Ltd (JSPL) chairman Naveen Jindal on Friday said the steel output capacity of Angul plant would be increased to 20 million tonnes per annum (mtpa) by 2030.
Jindal said JSPL will invest about Rs 50,000 crore for the expansion of the plant to meet the 20 million tonne production of steel.
He said the company won’t go for any loan for the expansion.
“We would finance the expansion by roping in strategic partners, raising equity and from internal accruals over a period of time,” he added.
The JSPL chairman on Friday met chief secretary Aditya Prasad Padhi and steel and mines secretary Raj Kumar Sharma at the State Secretariat here.
He also maintained that despite the acute shortage of coal and iron ore at times, the company will move ahead with its mission to achieve the target.
JSPL has 6 million tonne per annum installed capacity. The Angul plant, which is producing about 4 mtpa, aims to achieve the full capacity by next year.