Odisha which is emerging as the steel manufacturing hub of the country, requires a total investment of Rs 1,200 crore towards infrastructure development to develop a full-fledged ecosystem for downstream steel industries.
Naveen Jindal-controlled Jindal Steel & Power Ltd (JSPL) is likely to shortly finalise an agreement with its lenders for bringing Rs 7,200-7,500 crore loan out of its steel portfolio under the 5x25 scheme of the Reserve Bank of India.
The Odisha government on Monday said it has contested the order pronounced by the Odisha High Court (HC), allowing lifting of piled up iron ore stock by Jindal Steel & Power (JSPL) from Sarada Mines, in the Supreme Court.
Jindal Steel and Power (JSPL) will move an ‘appropriate forum’ in connection with the notice served by the Chhattisgarh government for recovering alleged excess payment made against power purchased from the company.
The Odisha High Court has asked the state government to comply with its order, allowing Jindal Steel and Power (JSPL) to lift over 12 million tonnes of iron ore that the company had purchased from Sarada Mines (SMPL) in four weeks.
Jindal Steel & Power (JSPL) is seeing the tide turning in its favour. While it announced the deal to sell its 1,000-Mw power assets, the March quarter performance, too, was helped by improving prospects in the steel segment.
The logo of JSW is seen on the company's headquarters in Mumbai. Photo: ReutersIn an early morning announcement on Wednesday, JSW announced its plans to acquire Jindal Steel & Power's (JSPL) Chhattisgarh power plant for Rs 6,500 crore.
Naveen Jindal (Photo: http://naveenjindal.com/)A special CBI court here charged Naveen Jindal, chairman of Jindal Steel & Power, with criminal conspiracy in a case of inappropriate allocation of the Amarkonda coal block in Jharkhand.