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Press Releases & News
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PRESS RELEASE, May 27, 2008 |
Audited Financial Results
»Net Profit After Tax up by 92% to
Rs. 390.33 Cr (Rs. 202.77 Cr)*
»Net Sales up by 45% to Rs. 1522.97 Cr (Rs. 1053.92 Cr)*
»Final Dividend 250% Rs. 2.50 for each share of Re. 1/- making total Dividend to 400% Rs. 4/- per share for the whole year
*figures in brackets are for 4th quarter of the financial year 2006-07
»Net Profit After Tax up by 76% to Rs. 1236.96 Cr (Rs. 702.99 Cr)*
»Net Sales up by 54% to Rs. 5410.75 Cr (Rs. 3519.81 Cr)*
»Better results are due to improved operational efficiency and increased production
*figures in brackets are of the financial year 2006-07
»Net Sales up by 45% to Rs. 1522.97 Cr (Rs. 1053.92 Cr)*
»Final Dividend 250% Rs. 2.50 for each share of Re. 1/- making total Dividend to 400% Rs. 4/- per share for the whole year
*figures in brackets are for 4th quarter of the financial year 2006-07
»Net Profit After Tax up by 76% to Rs. 1236.96 Cr (Rs. 702.99 Cr)*
»Net Sales up by 54% to Rs. 5410.75 Cr (Rs. 3519.81 Cr)*
»Better results are due to improved operational efficiency and increased production
*figures in brackets are of the financial year 2006-07
Major Highlights of the Financial Year
2007-08
JSPL has shown growth in production of
all its major products. Details of growth in production for the
»EBIDTA has increased by 52.34% in the current year to Rs. 2180.51 (previous year Rs. 1431.37 Cr.)
»Cash profit has increased by 50.58% to Rs. 1768.10 Cr. (previous year Rs.1174.21 Cr)
*figures in brackets are of the financial year 2006-07
»EBIDTA has increased by 52.34% in the current year to Rs. 2180.51 (previous year Rs. 1431.37 Cr.)
»Cash profit has increased by 50.58% to Rs. 1768.10 Cr. (previous year Rs.1174.21 Cr)
*figures in brackets are of the financial year 2006-07
Production
Details of growth in production for the
quarter ended March 31, 2008 and for the year 2007-08 are as under.:
For the Quarter IV ended March 31, 2008:
For the Quarter IV ended March 31, 2008:
| Product (MT) | Qtr III | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron | 314,218 | 303,112 | 4% |
| Steel Products* | 457,154 | 277,354 | 65% |
| Power (million kWh) | 721.02 | 671 | 7% |
For the Financial Year 2007-08:
| Product (MT) | Qtr III | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron | 1,185,740 | 1,196,330 | (1%) |
| Steel Products* | 1,425,060 | 803,304 | 77% |
| Power (million kWh) | 2665.12 | 2,668 | - |
# Slabs/Bloom/Billets
Sales
Details of increase in sales for the
quarter ended March 31, 2008 and for the year 2007-08 are as under
For the Quarter IV ended March 31, 2008:
For the Quarter IV ended March 31, 2008:
| Product (MT) | Qtr III | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron# | 58,084 | 158,207 | (63%)** |
| Steel Products* | 360,639 | 254,853 | 42% |
| Power (million kWh) | 245.16 | 281 | (13%) |
*Slabs/Bloom/Billets/Structurals & Rails/Universal Plate/Coil
** Sponge iron sale is down due to higher captive consumption
For the Financial Year 2007-08:
| Product (MT) | Qtr III | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron# | 405,670 | 698,945 | (42%) |
| Steel Products* | 1,266,750 | 747,361 | 69% |
| Power (million kWh) | 892.51 | 1,237 | (28%) |
*Slabs/Bloom/Billets/Structurals & Rails/Universal Plate/Coil
** Sponge iron sale is down due to higher captive consumption
Completion of Projects
Jindal Power Limited – JPL(A
subsidiary company) has commissioned 500 MW (2 unitsx250 MW) of 1000 MW
project in the year 2007-08. Third & fourth unit of 250 MW each are
likely to be commissioned in June and July 2008 respectively.
JPL has started selling power to various consumers across India and shown a marginal turnover of Rs. 125.86 Cr. and Profit After Tax of Rs. 19.43 Cr. in the very first year ended on 31st March, 2008.
JPL has started selling power to various consumers across India and shown a marginal turnover of Rs. 125.86 Cr. and Profit After Tax of Rs. 19.43 Cr. in the very first year ended on 31st March, 2008.
PRESS RELEASE, Januray 28, 2008
Audited Financial Results
» Net Profit after tax up by 68% to
Rs. 319.05 Cr (Rs. 189.90 Cr)*
» Net Sales up by 38% to Rs. 1395.61 Cr (Rs. 1010.06 Cr)*
» Cash profit has increased by 44% to Rs. 452.91 Cr (Rs. 315.20 Cr)
*figures in brackets are for 3rd quarter of the financial year 2006-07
» Net Sales up by 38% to Rs. 1395.61 Cr (Rs. 1010.06 Cr)*
» Cash profit has increased by 44% to Rs. 452.91 Cr (Rs. 315.20 Cr)
*figures in brackets are for 3rd quarter of the financial year 2006-07
Production
JSPL has shown growth in production of
all its major products. Details of growth in production for the quarter
ended December 31, 2007 with the corresponding quarter in the previous
financial year are as under:
For the Quarter III ended December 31, 2007:
For the Quarter III ended December 31, 2007:
| Product (MT) | Qtr III | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron | 291,692 | 292,005 | - |
| Steel Products* | 358,046 | 214,725 | 40% |
| Power (million kWh) | 664.20 | 684.85 | (-) 3% |
Sales
Details of increase in sales for the
quarter ended December 31, 2007 with the corresponding quarter in the
previous financial year are as under:
For the Quarter III ended December 31, 2007:
For the Quarter III ended December 31, 2007:
| Product (MT) | Qtr III | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron# | 87,544 | 138,382 | (-) 58%# |
| Steel Products* | 335,722 | 225,213 | 33% |
| Power (million kWh) | 284.26 | 316.08 | (-) 11%# |
*Slabs/Bloom/Billets/Structurals & Rails/Universal Plate/Coil
# Sale of Sponge Iron and Power has reduced due to higher Captive Consumption
|
PRESS RELEASE, 14th December 2007 |
Jindal Steel & Power Ltd awarded First
Prize at the 'National Energy Conservation Award 2007' in the Integrated
Steel Plants Sector
The award reaffirms company's culture
of energy conservation
New Delhi, 14th December 2007 - Her Excellency, Hon'ble President of India, Smt. Pratibha Devi Singh Patil awarded the first prize at the prestigious 'National Energy Conservation Award 2007' to Jindal Steel and Power Limited (JSPL) in a glittering function here today. Mr. PS Rana, Executive Director, JSPL, Raigarh received the award for the company. JSPL bagged the award in the Integrated Steel Plants Sector.
Constituted by The Ministry of Power, Government of India, the special awards are presented to the industrial units who implement the best practices in the field of Energy Efficiency & Conservation. The awards are presented on the occasion of Energy Conservation Day every year.
There has been an overall improvement in all the energy parameters and significant achievements include reduction in heat consumption at all production units, reduction in Coke Breeze consumption at Sintering Plant, reduction in Coke consumption at Blast Furnaces and increase in waste heat recovery through the various energy conservation measures. This has been possible through the active involvement of JSPL collective and adoption of quality improvement projects exclusively for energy conservation.
Speaking on the occasion, Mr. PS Rana, Executive Director, JSPL, Raigarh said, " It is indeed a moment of great pride & honor for the company and its people. The award has certainly reaffirmed company's faith in the implementation of best practices of energy conservation. JSPL is committed to work for effective utilization of all types of energy."
Adding further, Mr. Rana Said, "The award is in sync with the company's energy policy, which is achieved through taking specific objective of energy conservation through process / equipment modification and using the latest and the modern technology, monitoring of energy consumption, converting waste as resource, benchmarking the energy consumption norms and adherence to statutory requirements. The company has achieved 5% saving on gross sales of the year 2006-07 by adopting modern energy saving measures."
About Jindal Steel & Power Limited
Jindal Steel & Power Limited, Raigarh is an integrated steel plant with a steel production capacity of 2.4 million tons per annum, wherein captive power plant of 350 Mega Watt has been established for its own use. This plant generates power with eco-friendly manufacturing processes while following all the energy conversation standards. The annual turnover of the company is Rs. 3500 crore. Company is engaged in steel production, power generation, iron ore & coal mining and diamond exploration & excavation. In regard to self-dependency, company is pioneer in its field while making efforts for the infrastructure development. With a commitment of capital investment of Rs. 10,000 crore in Chhattisgarh state, company is the biggest investor in the state in the private sector.
For further information
Vivek Sharma @ 9818552437
New Delhi, 14th December 2007 - Her Excellency, Hon'ble President of India, Smt. Pratibha Devi Singh Patil awarded the first prize at the prestigious 'National Energy Conservation Award 2007' to Jindal Steel and Power Limited (JSPL) in a glittering function here today. Mr. PS Rana, Executive Director, JSPL, Raigarh received the award for the company. JSPL bagged the award in the Integrated Steel Plants Sector.
Constituted by The Ministry of Power, Government of India, the special awards are presented to the industrial units who implement the best practices in the field of Energy Efficiency & Conservation. The awards are presented on the occasion of Energy Conservation Day every year.
There has been an overall improvement in all the energy parameters and significant achievements include reduction in heat consumption at all production units, reduction in Coke Breeze consumption at Sintering Plant, reduction in Coke consumption at Blast Furnaces and increase in waste heat recovery through the various energy conservation measures. This has been possible through the active involvement of JSPL collective and adoption of quality improvement projects exclusively for energy conservation.
Speaking on the occasion, Mr. PS Rana, Executive Director, JSPL, Raigarh said, " It is indeed a moment of great pride & honor for the company and its people. The award has certainly reaffirmed company's faith in the implementation of best practices of energy conservation. JSPL is committed to work for effective utilization of all types of energy."
Adding further, Mr. Rana Said, "The award is in sync with the company's energy policy, which is achieved through taking specific objective of energy conservation through process / equipment modification and using the latest and the modern technology, monitoring of energy consumption, converting waste as resource, benchmarking the energy consumption norms and adherence to statutory requirements. The company has achieved 5% saving on gross sales of the year 2006-07 by adopting modern energy saving measures."
About Jindal Steel & Power Limited
Jindal Steel & Power Limited, Raigarh is an integrated steel plant with a steel production capacity of 2.4 million tons per annum, wherein captive power plant of 350 Mega Watt has been established for its own use. This plant generates power with eco-friendly manufacturing processes while following all the energy conversation standards. The annual turnover of the company is Rs. 3500 crore. Company is engaged in steel production, power generation, iron ore & coal mining and diamond exploration & excavation. In regard to self-dependency, company is pioneer in its field while making efforts for the infrastructure development. With a commitment of capital investment of Rs. 10,000 crore in Chhattisgarh state, company is the biggest investor in the state in the private sector.
For further information
Vivek Sharma @ 9818552437
PRESS RELEASE, October 29, 2007
Audited Financial Results
» Net Profit after tax up by 76% to
Rs. 277.47 Cr (Rs. 157.23 Cr)*
» Net Sales up by 61% to Rs. 1269.04 Cr (Rs. 789.64 Cr)*
» Cash profit has increased by 63% to Rs. 415.36 Cr (Rs. 254.91 Cr)*
*figures in brackets are for 2nd quarter of the financial year 2006-07
Production
Sales (Includes Internal Consumption)
* Steel production includes Slabs/Bloom/Billets/Structurals & Rails/Plates
Major Highlights of the Financial Year 2006-07
Production
For the Financial Year 2006-07 :
Sales
*Slabs/Bloom/Billets/Structurals & Rails
For the Financial Year 2006-07 :
*Slabs/Bloom/Billets/Structurals & Rails
Completion of Projects
» Net Sales up by 61% to Rs. 1269.04 Cr (Rs. 789.64 Cr)*
» Cash profit has increased by 63% to Rs. 415.36 Cr (Rs. 254.91 Cr)*
*figures in brackets are for 2nd quarter of the financial year 2006-07
Production
JSPL has shown growth in production of
all its major products. Details of growth in production for the quarter
ended September 30, 2007 with the corresponding quarter in the previous
financial year are as under:
For the Quarter II ended September 30, 2007:
For the Quarter II ended September 30, 2007:
| Product (MT) | Qtr II | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron | 284,369 | 302,761 | -6% |
| Steel Products* | 303,120 | 162,235 | 87% |
| Power (million kWh) | 604.18 | 692.17 | -13% |
Sales (Includes Internal Consumption)
Details of increase in sales for the
quarter ended September 30, 2007 with the corresponding quarter in the
previous financial year are as under:
For the Quarter II ended September 30, 2007:
For the Quarter II ended September 30, 2007:
| Product (MT) | Qtr II | Growth (%) | |
| 2007-08 | 2006-07 | ||
| Sponge Iron | 291,028 | 325,478 | -11% |
| Steel Products* | 272,214 | 159,779 | 70% |
| Power (million kWh) | 604.18 | 692.17 | -13% |
* Steel production includes Slabs/Bloom/Billets/Structurals & Rails/Plates
PRESS RELEASE, May 21, 2007
Audited Financial Results
» Net Profit after tax up by 35% to
Rs.202.77 Cr (Rs. 150.66 Cr)*
» Net Sales up by 56% to Rs.1053.92 Cr (Rs.673.52Cr)*
» Final Dividend 240% Rs. 12/- for each share of Rs.5/- making total Dividend to 360% Rs. 18 per share for the whole year
*figures in brackets are for 4th quarter of the financial year 2005-06
» Net Profit after tax up by 23% to Rs.702.99 Cr (Rs.572.94 Cr)*
» Net Sales up by 36% to Rs.3519.81 Cr (Rs.2590.25 Cr)*
» Exports up by 82% to Rs.676.40 Cr (Rs. 371.85 Cr)*
» Better results are due to improved operational efficiency and increased capacities
*figures in brackets are for the financial year 2005-06
» Net Sales up by 56% to Rs.1053.92 Cr (Rs.673.52Cr)*
» Final Dividend 240% Rs. 12/- for each share of Rs.5/- making total Dividend to 360% Rs. 18 per share for the whole year
*figures in brackets are for 4th quarter of the financial year 2005-06
» Net Profit after tax up by 23% to Rs.702.99 Cr (Rs.572.94 Cr)*
» Net Sales up by 36% to Rs.3519.81 Cr (Rs.2590.25 Cr)*
» Exports up by 82% to Rs.676.40 Cr (Rs. 371.85 Cr)*
» Better results are due to improved operational efficiency and increased capacities
*figures in brackets are for the financial year 2005-06
Major Highlights of the Financial Year 2006-07
» EBIDTA has increased by 36% in the
current year to Rs. 1431.37 Cr (previous year Rs. 1055.15 Cr)
» Cash profit has increased by 37% to Rs. 1174.21 Cr (previous year Rs. 858.14 Cr).
» Cash profit has increased by 37% to Rs. 1174.21 Cr (previous year Rs. 858.14 Cr).
Production
JSPL has shown growth in production of
all its major products. Details of growth in production for the quarter
ended March 31, 2007 and for the year 2005-06 are as under:
For the Quarter IV ended March 31, 2007 :
For the Quarter IV ended March 31, 2007 :
| Product (MT) | Qtr IV | Growth (%) | |
| 2006-07 | 2005-06 | ||
| Sponge Iron | 303,112 | 309,104 | -2% |
| Steel Products* | 277,354 | 124,488 | 123% |
| Power (million kWh) | 671 | 598 | 12% |
For the Financial Year 2006-07 :
| Product (MT) | Financial Year | Growth (%) | |
| 2006-07 | 2005-06 | ||
| Sponge Iron | 1,196,330 | 1,017,746 | 18% |
| Steel Products* | 803,304 | 522,334 | 54% |
| Power (million kWh) | 2,668 | 2,225 | 20% |
Sales
Details of increase in sales for the
quarter ended March 31, 2007 and for the year 2005-06 are as under:
For the Quarter IV ended March 31, 2007 :
For the Quarter IV ended March 31, 2007 :
| Product (MT) | Qtr IV | Growth (%) | |
| 2006-07 | 2005-06 | ||
| Sponge Iron | 158,207 | 189,937 | -17% |
| Steel Products* | 236,408 | 102,262 | 131% |
| Power (million kWh) | 281 | 311 | -10% |
*Slabs/Bloom/Billets/Structurals & Rails
For the Financial Year 2006-07 :
| Product (MT) | Financial Year | Growth (%) | |
| 2006-07 | 2005-06 | ||
| Sponge Iron | 698,945 | 620,490 | 13% |
| Steel Products* | 710,875 | 376,825 | 89% |
| Power (million kWh) | 1,237 | 1,110 | 11% |
*Slabs/Bloom/Billets/Structurals & Rails
Completion of Projects
Plate Mill, with an installed capacity of
1 million ton has been successfully commissioned in April 2007.
PRESS RELEASE, March 18, 2007
Chief Minister Shri Madhu Koda lays the
foundation stone of the Steel Plant of Jindal Steel & Power Ltd. (JSPL)
at Patratu
March 18, 2007, Ranchi: Shri
Madhu Koda, Honble Chief Minister of the Jharkhand laid the foundation
stone of the Jindal Steel and Power Ltd. (JSPL) new steel plant at Patratu
in Hazaribagh district in a ceremony today. A large number of dignitaries
including Shri Naveen Jindal, Parliamentarian and EVC and Managing Director,
JSPL; Shri Stephen Marandi, Deputy CM and Finance Minister, Jharkhand; Shri
Sudhir Mahato, Deputy CM and Industry Minister, Jharkhand; Shri Bhuneshwar
Mehta, Parliamentarian, Hazaribagh; Shri Loknath Mehta, MLA, Barkagaon and a
large gathering of people from Patratu and Ranchi were present on this
occasion.
The new steel plant of Jindal Steel and Power Ltd at Patratu will have a total annual capacity of 6 million tones and a 1000MW power plant. The new plant will be built using the infrastructure of the recently acquired Bihar Alloy Steel Ltd (BASL) plant. The JSPL Patratu Plant will have a Sinter Plant of 6 million tonne per annum (MTPA), H R Coil Plant of 3 MTPA, Wire Rod, Rebar and structural of 3MTPA and Coke Oven of 3 MTPA.
JSPL also plans to set up two power plants with a total production capacity of 2500 MW in the state. The company intends to invest Rs 25,000 crore for setting up the steel plant and power generation plants in the state.
Mr. Naveen Jindal, EVC and Managing Director, JSPL said on the occasion, We are happy to be a partner in the progress of Jharkhand. With the JSPL Patratu Plant, a new surge of industrial development in the state of Jharkhand is expected. The plant will provide gainful employment in the state and will also help in the economic and infrastructure development of the region.
JSPL is also dedicated to protecting the environment by adopting eco-friendly processes and activities. JSPL is an ISO 14001 certified Company, committed to environment protection as an integral part of their business activities. An ISO-9002 certified company; JSPL is committed to conducting business safely, ethically and in an environmentally responsible manner that protects the natural resources and environment.
About Jindal Steel and Power Ltd.
Jindal Steel and Power (JSPL), part of the Rs. 20,000 crore Jindal Organisation, has business interests in steel production, power generation, mining iron ore, coal and diamond exploration/mining. The current turnover of the company is over Rs. 3000 crores and on a path of catalyzing economic development of the country through its contribution to the infrastructure sector.
For further information:
Vivek Sharma, Corporate Communications, JSPL. Mob: 9818552437
The new steel plant of Jindal Steel and Power Ltd at Patratu will have a total annual capacity of 6 million tones and a 1000MW power plant. The new plant will be built using the infrastructure of the recently acquired Bihar Alloy Steel Ltd (BASL) plant. The JSPL Patratu Plant will have a Sinter Plant of 6 million tonne per annum (MTPA), H R Coil Plant of 3 MTPA, Wire Rod, Rebar and structural of 3MTPA and Coke Oven of 3 MTPA.
JSPL also plans to set up two power plants with a total production capacity of 2500 MW in the state. The company intends to invest Rs 25,000 crore for setting up the steel plant and power generation plants in the state.
Mr. Naveen Jindal, EVC and Managing Director, JSPL said on the occasion, We are happy to be a partner in the progress of Jharkhand. With the JSPL Patratu Plant, a new surge of industrial development in the state of Jharkhand is expected. The plant will provide gainful employment in the state and will also help in the economic and infrastructure development of the region.
JSPL is also dedicated to protecting the environment by adopting eco-friendly processes and activities. JSPL is an ISO 14001 certified Company, committed to environment protection as an integral part of their business activities. An ISO-9002 certified company; JSPL is committed to conducting business safely, ethically and in an environmentally responsible manner that protects the natural resources and environment.
About Jindal Steel and Power Ltd.
Jindal Steel and Power (JSPL), part of the Rs. 20,000 crore Jindal Organisation, has business interests in steel production, power generation, mining iron ore, coal and diamond exploration/mining. The current turnover of the company is over Rs. 3000 crores and on a path of catalyzing economic development of the country through its contribution to the infrastructure sector.
For further information:
Vivek Sharma, Corporate Communications, JSPL. Mob: 9818552437
PRESS RELEASE, March 2, 2007
Jindal Steel and Power Ltd. reaches
agreement with the Bolivian Government on El Mutun Mines
New Delhi, March 2, 2007: Jindal
Steel and Power Limited (JSPL), part of Rs.20,000 crore Jindal Organisation,
has reached an agreement with the Bolivian Government on the terms of the
planned $2.1 billion investment in mining and steel-making at the El Mutun
iron ore mines. El Mutun, believed to contain one of the world's biggest
iron-ore reserves, contains an estimated 40 billion tonnes of iron ore of
medium-grade quality.
Bolivian President Evo Morales and JSPL's Senior Management team led by Mr. Vikrant Gujral, Vice Chairman & CEO and Mr. Sushil Maroo, Director-Finance agreed on the tax rate and natural gas prices for the iron and steel project. A definitive contract will be signed with the Government within 45 days.
Bolivia, a major natural gas producer has agreed to sell Jindal natural gas at $3.91 per million BTUs (British Thermal Units) for steel making, which represents 70 percent of the project's power needs. Jindal will pay $1.955 per BTU for gas for power generation, which accounts for 30 percent of its power needs.
In June 2006, JSPL emerged as the only company, which met the qualifying criteria set by the Bolivian Government to exploit 50 percent of the El Mutun reserve. This was followed by negotiations with the Bolivian government on various clauses.
JSPL plans to invest USD 2.1 billion over the next 8 years in creating an integrated steel plant, which would be capable of producing 1.7 MTPA of long products of steel, and will also have DRI (Direct Reduced Iron /Sponge iron) Plant of capacity 6MTPA and a pellet plant of capacity 10MTPA. The company will also be setting up supporting infrastructure for the proposed plant including a 450 MW Power Plant.
The project will allow Bolivia to develop a steel-making industry for the first time and is the biggest investment in a single project in Bolivian history. The investment by JSPL will create gainful direct jobs in the iron ore mine and the steel plant. The deposit is located southeast of Bolivia, near the Brazilian border.
Jindal Steel and Power (JSPL) has business interests in steel production, power generation, mining iron ore, coal and diamond exploration/mining. The current turnover of the company is over Rs. 3000 crore and on a path of catalyzing economic development of the country through its contribution to the infrastructure sector.
For further information:
Kaushik Bose, Corporate Communications, JSPL. Mob: 9810620971, Ph: 011-41462003
Vivek Sharma, Corporate Communications, JSPL. Mob: 9818552437
Bolivian President Evo Morales and JSPL's Senior Management team led by Mr. Vikrant Gujral, Vice Chairman & CEO and Mr. Sushil Maroo, Director-Finance agreed on the tax rate and natural gas prices for the iron and steel project. A definitive contract will be signed with the Government within 45 days.
Bolivia, a major natural gas producer has agreed to sell Jindal natural gas at $3.91 per million BTUs (British Thermal Units) for steel making, which represents 70 percent of the project's power needs. Jindal will pay $1.955 per BTU for gas for power generation, which accounts for 30 percent of its power needs.
In June 2006, JSPL emerged as the only company, which met the qualifying criteria set by the Bolivian Government to exploit 50 percent of the El Mutun reserve. This was followed by negotiations with the Bolivian government on various clauses.
JSPL plans to invest USD 2.1 billion over the next 8 years in creating an integrated steel plant, which would be capable of producing 1.7 MTPA of long products of steel, and will also have DRI (Direct Reduced Iron /Sponge iron) Plant of capacity 6MTPA and a pellet plant of capacity 10MTPA. The company will also be setting up supporting infrastructure for the proposed plant including a 450 MW Power Plant.
The project will allow Bolivia to develop a steel-making industry for the first time and is the biggest investment in a single project in Bolivian history. The investment by JSPL will create gainful direct jobs in the iron ore mine and the steel plant. The deposit is located southeast of Bolivia, near the Brazilian border.
Jindal Steel and Power (JSPL) has business interests in steel production, power generation, mining iron ore, coal and diamond exploration/mining. The current turnover of the company is over Rs. 3000 crore and on a path of catalyzing economic development of the country through its contribution to the infrastructure sector.
For further information:
Kaushik Bose, Corporate Communications, JSPL. Mob: 9810620971, Ph: 011-41462003
Vivek Sharma, Corporate Communications, JSPL. Mob: 9818552437
PRESS RELEASE, February 13, 2007
Jindal Steel & Power Ltd. joins the
Globeleq-Lanco Consortium for Sasan UMPP
New Delhi, February 13, 2007: In
a move that would further strengthen the Globeleq - Lanco consortium for the
Sasan UMPP, Jindal Steel & Power Limited (JSPL) has acquired 40% of the
equity holding of Globeleq Limited in Globeleq Singapore Pte Limited ("GS").
Globeleq-Lanco Consortium is the successful bidder for the Sasan UMPP. JSPL
is a prequalified bidder for the Sasan UMPP.
GS will retain its interest in the Sasan UMPP under the new ownership structure and going forward will execute the project with financial and technical support from JSPL, Lanco Infratech and their affiliates.
" We at JSPL are happy to be associated with the Sasan UMPP and this acquisition represents our association with this project of national importance. We are convinced about the project economics and believe that our experience in developing large projects including power projects and our experience in coal mining will add significant strength to the consortium," said a JSPL spokesperson.
About JSPL
JSPL is one of the largest manufacturer of steel and also a large developer of power projects with rich experience in coal mining. The subsidiary of JSPL is implementing 1000 MW mega power project in the State of Chhattisgarh which is in advance stage of commissioning and will start generation from July 2007. The total 1000 mw power project will be completed by end of this year. JSPL is listed on the BSE and NSE with a market capitalization of approximately Rs. 7,500 crores.
For further information:
Mr. Rajeev Aggarwal, Assistant Vice President, Jindal Steel & Power Ltd.
Tel: (O) 011- 41462130, 26188345-360
GS will retain its interest in the Sasan UMPP under the new ownership structure and going forward will execute the project with financial and technical support from JSPL, Lanco Infratech and their affiliates.
" We at JSPL are happy to be associated with the Sasan UMPP and this acquisition represents our association with this project of national importance. We are convinced about the project economics and believe that our experience in developing large projects including power projects and our experience in coal mining will add significant strength to the consortium," said a JSPL spokesperson.
About JSPL
JSPL is one of the largest manufacturer of steel and also a large developer of power projects with rich experience in coal mining. The subsidiary of JSPL is implementing 1000 MW mega power project in the State of Chhattisgarh which is in advance stage of commissioning and will start generation from July 2007. The total 1000 mw power project will be completed by end of this year. JSPL is listed on the BSE and NSE with a market capitalization of approximately Rs. 7,500 crores.
For further information:
Mr. Rajeev Aggarwal, Assistant Vice President, Jindal Steel & Power Ltd.
Tel: (O) 011- 41462130, 26188345-360
PRESS RELEASE, January 8, 2007
JSPL wins FICCI Award in recognition of
Corporate Initiatives in Sports
Jindal Steel and Power Limited (JSPL) has
been felicitated by Federation of Indian Chambers of Commerce and Industry
(FICCI) today, in recognition of outstanding corporate initiatives in
Sports.
Mr. Naveen Jindal, EVC and Managing Director, JSPL received the prestigious award from Honble Prime Minister of India, Dr. Manmohan Singh in presence of Union Minister of Commerce and Industry, Shri Kamal Nath; Mr. Saroj Kumar Poddar, President FICCI; Mr. Amit Mitra, Secretary General, FICCI and others
The award has been given to JSPL for showing a strong commitment towards sports promotion. This commitment has been reflected in JSPLs efforts towards development of sports infrastructure, support to deserving and budding sportsperson through scholarships and nurturing talent with a view to improving the overall performance in international sports competition.
JSPL constituted Jindal Steel and Power Sports Promotion Board in 2004 with the view to encourage, promote, develop and control the athletics, sports and cultural activities in the organisation. The major sports that have been adopted by JSPL are shooting, archery, boxing, fencing, polo, wrestling and rock climbing. JSPL also supports other sporting activities related to hockey, cricket, football, basketball, weightlifting, table tennis etc. JSPL also encourages sportspersons by providing them employment.
JSPL over the years have developed widespread infrastructure to encourage sporting events and activities which includes boxing ring, shooting ranges, skeet range, fencing platform, polo grounds, multipurpose gymnasiums, squash court, swimming pools, yoga center and human performance lab. JSPL is also investing in various charitable organisations dedicated towards the development of sports.
On receiving the award, Mr. Naveen Jindal, EVC and Managing Director said, Sports inculcate the characteristics and discipline that lead to high performance, drive and initiative to achieve and high level of confidence. These are essential factors in making a winner. It is a proud moment for all of us at JSPL.
Jindal Steel and Power (JSPL), part of the US$8 billion Jindal Organisation, has business interests in steel production, power generation, mining iron ore, coal and diamond exploration/mining. The current turnover of the company is over Rs. 2900 crores and on a path of catalyzing economic development of the country through its contribution to the infrastructure sector.
Mr. Naveen Jindal, EVC and Managing Director, JSPL received the prestigious award from Honble Prime Minister of India, Dr. Manmohan Singh in presence of Union Minister of Commerce and Industry, Shri Kamal Nath; Mr. Saroj Kumar Poddar, President FICCI; Mr. Amit Mitra, Secretary General, FICCI and others
The award has been given to JSPL for showing a strong commitment towards sports promotion. This commitment has been reflected in JSPLs efforts towards development of sports infrastructure, support to deserving and budding sportsperson through scholarships and nurturing talent with a view to improving the overall performance in international sports competition.
JSPL constituted Jindal Steel and Power Sports Promotion Board in 2004 with the view to encourage, promote, develop and control the athletics, sports and cultural activities in the organisation. The major sports that have been adopted by JSPL are shooting, archery, boxing, fencing, polo, wrestling and rock climbing. JSPL also supports other sporting activities related to hockey, cricket, football, basketball, weightlifting, table tennis etc. JSPL also encourages sportspersons by providing them employment.
JSPL over the years have developed widespread infrastructure to encourage sporting events and activities which includes boxing ring, shooting ranges, skeet range, fencing platform, polo grounds, multipurpose gymnasiums, squash court, swimming pools, yoga center and human performance lab. JSPL is also investing in various charitable organisations dedicated towards the development of sports.
On receiving the award, Mr. Naveen Jindal, EVC and Managing Director said, Sports inculcate the characteristics and discipline that lead to high performance, drive and initiative to achieve and high level of confidence. These are essential factors in making a winner. It is a proud moment for all of us at JSPL.
Jindal Steel and Power (JSPL), part of the US$8 billion Jindal Organisation, has business interests in steel production, power generation, mining iron ore, coal and diamond exploration/mining. The current turnover of the company is over Rs. 2900 crores and on a path of catalyzing economic development of the country through its contribution to the infrastructure sector.
PRESS RELEASE, October 30, 2006
Unaudited Financial Results
» Net Profit after tax up by 8% to
Rs. 157.23 Cr (Rs. 145.53 Cr)*
» Net Sales up by 23% to Rs. 789.64 Cr (Rs. 642.48 Cr)*
» Exports up by 54% to Rs. 170.34 Cr (Rs. 110.81 Cr)*
» Cash profit has increased by 22% to Rs. 254.84 Cr (Rs. 209.42 Cr)
*figures in brackets are for 2nd quarter of the financial year 2005-06
» Net Sales up by 23% to Rs. 789.64 Cr (Rs. 642.48 Cr)*
» Exports up by 54% to Rs. 170.34 Cr (Rs. 110.81 Cr)*
» Cash profit has increased by 22% to Rs. 254.84 Cr (Rs. 209.42 Cr)
*figures in brackets are for 2nd quarter of the financial year 2005-06
Production
JSPL has shown growth in production of
all its major products. Details of growth in production for the quarter
ended September 30, 2006 with the corresponding quarter in the previous
financial year are as under:
For the Quarter II ended September 30, 2006:
| Product (MT) | Qtr II | Growth (%) | |
| 2006-07 | 2005-06 | ||
| Sponge Iron | 302,761 | 234,624 | 29 |
| Steel Products* | 162,235 | 136,613 | 19 |
| Power (million kWh) | 692.16 | 533.60 | 30 |
Sales
Details of increase in sales for the
quarter ended September 30, 2006 with the corresponding quarter in the
previous financial year are as under:
For the Quarter II ended September 30, 2006:
| Product (MT) | Qtr II | Growth (%) | |
| 2006-07 | 2005-06 | ||
| Sponge Iron | 193,746 | 152,349 | 27 |
| Steel Products* | 155,983 | 85,144 | 83 |
| Power (million kWh) | 343.04 | 258.70 | 33 |
*Slabs/Bloom/Billets/Structurals & Rails
Jindal
Steel & Power Wins The Tender For El Mutun Mines In Bolivia
PRESS RELEASE, Friday, June 02, 2006, New Delhi: Press Release
Jindal Steel & Power Limited headed by Mr. Naveen Jindal, part of USD 4Bn OP Jindal group today announced that it has been granted the mining rights for 20 Bn tonnes of iron ore reserves from El Mutun iron ore Mines, Bolivia, which is one of the largest iron ore reserves in the world. The company plans to invest USD 2.3 bn over the next 8 years in creating an integrated steel plant, which would be capable of producing 1.7MTPA of long products of steel, and will also have DRI (Direct Reduced Iron /Sponge iron) Plant of capacity 6MTPA and a pellet plant of capacity 10MTPA. The company will also be setting up supporting infrastructure for the proposed plant including a 400 MW Power Plant. The deal was signed after extensive negotiations between the Bolivian Government and a senior team from JSPL led by Mr. Vikrant Gujral Vice Chairman & CEO, and Mr. Sushil Maroo, Director Finance.
JSPL emerged as the only company which met the qualifying criteria set by the Bolivian Government for this international tender. JSPL in line with its philosophy of creating value for its stakeholders and local communities in which it operates will be setting up an ultra modern, environmentally friendly steel plant in Bolivia.
As regards the companys presence in India, it operates the world's largest coal-based Sponge Iron Plant while pioneering a revolution in self-sufficiency. The company is operating captive coal and iron ore mine. By producing economical and efficient steel and power the company is passing the benefits to the consumer. In this endeavor, the company is actively involved in developing basic infrastructure.
JSPL is dedicated to protecting the environment by adopting eco-friendly processes and activities. JSPL is an ISO 14001 certified Company, committed to environment protection as an integral part of their business activities. JSPL has been showered with awards praising almost all its operational aspects. An ISO-9002 certified company; JSPL is committed to conducting business safely, ethically and in an environmentally responsible manner that protects the natural resources and environment.
PRESS RELEASE, Friday, June 02, 2006, New Delhi: Press Release
Jindal Steel & Power Limited headed by Mr. Naveen Jindal, part of USD 4Bn OP Jindal group today announced that it has been granted the mining rights for 20 Bn tonnes of iron ore reserves from El Mutun iron ore Mines, Bolivia, which is one of the largest iron ore reserves in the world. The company plans to invest USD 2.3 bn over the next 8 years in creating an integrated steel plant, which would be capable of producing 1.7MTPA of long products of steel, and will also have DRI (Direct Reduced Iron /Sponge iron) Plant of capacity 6MTPA and a pellet plant of capacity 10MTPA. The company will also be setting up supporting infrastructure for the proposed plant including a 400 MW Power Plant. The deal was signed after extensive negotiations between the Bolivian Government and a senior team from JSPL led by Mr. Vikrant Gujral Vice Chairman & CEO, and Mr. Sushil Maroo, Director Finance.
JSPL emerged as the only company which met the qualifying criteria set by the Bolivian Government for this international tender. JSPL in line with its philosophy of creating value for its stakeholders and local communities in which it operates will be setting up an ultra modern, environmentally friendly steel plant in Bolivia.
As regards the companys presence in India, it operates the world's largest coal-based Sponge Iron Plant while pioneering a revolution in self-sufficiency. The company is operating captive coal and iron ore mine. By producing economical and efficient steel and power the company is passing the benefits to the consumer. In this endeavor, the company is actively involved in developing basic infrastructure.
JSPL is dedicated to protecting the environment by adopting eco-friendly processes and activities. JSPL is an ISO 14001 certified Company, committed to environment protection as an integral part of their business activities. JSPL has been showered with awards praising almost all its operational aspects. An ISO-9002 certified company; JSPL is committed to conducting business safely, ethically and in an environmentally responsible manner that protects the natural resources and environment.
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