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Jindal Steel fires up large steel facility in India's Odisha state

Jindal Steel & Power Ltd., or JSPL, started up its 6-million-tonne per annum integrated steel facility in India's Odisha state with the commissioning of the blast furnace, Press Trust of India wrote May 27.

JSPL invested 330 billion rupees to develop the facility, which would allow it to overcome losses related to the country's earlier cancellation of coal block allocations, Chairman Naveen Jindal said.

Odisha Chief Minister Naveen Patnaik, meanwhile, noted that the facility would provide direct jobs to about 30,000 people and indirect jobs to many others.

Odisha will become the fourth-largest steelmaker in India with JSPL's plant.

As of May 26, US$1 was equivalent to 64.50 Indian rupees.