JSPL’s crude steel production rises 8% to 6.5 lakh tonne in July

Jindal Steel and Power Ltd (JSPL) on Thursday said its steel output rose by 8 per cent to 6.5 lakh tonne (LT) during July 2021.

The company had produced 6.03 LT steel in same month of 2020, JSPL said in a statement.

During the said month, the company's sales also registered a growth of 5 per cent to 6.7 LT as compared to 6.4 LT sales in July last year.

Exports accounted for more than 40 per cent of the total sales volumes due to high spot demand from international markets, the company said.

JSPL Managing Director V R Sharma said, "Despite second wave of COVID related disruptions, we are on track to achieve our annual target of 8.25 MT for FY22. Further, we are seeing COVID cases come down, which will give a major relief to the industry and our customers."

Sharma further said the effective vaccination campaign driven by the Government of India will encourage workers to return to construction sites and help speed up manufacturing, which will likely to boost domestic demand.

Part of O P Jindal Group, JSPL has a presence in the steel, power, and mining sectors, and has invested Rs 90,000 crore across the globe.

Also Read: JSW Steel posts record profit of Rs 5,904 cr in Apr-Jun

Also Read: How Lady Meherbai Tata’s larger-than-Kohinoor diamond saved Tata Steel