JSPL to augment Oman plant capacity to 5 mn tonne by 2016

New Delhi : Jindal Steel and Power (JSPL) today said it will expand the capacity of its 1.5 million tonne steel plant in Oman to about 5 million tonne by 2015-16. JSPL, through its wholly-owned subsidiary Jindal Steel & Power, Mauritius (JSPLM), had acquired Oman's Shadeed Iron & Steel Co. LLC (Shadeed) in July last year for $500 million, which started commercial production four months ahead of schedule in December 2010.

We are pressing ahead with the next phase of expansion. Our plant will produce 2 million million of finished steel in the second stage and in the third phase, we are hopeful of producing 4-5 million million per annum of steel in the next 4-5 years time," JSPL Executive Vice President and Managing Director Naveen Jindal said.