A leading powerhouse with a firm hold into the steel business rightly known as Jindal Steel & Power Limited. The leading Infrastructure Steel Company efforts towards being aligned with the Government policies, making the nation a superpower, and building a better world. It produces economical and efficient steel through backward and forward integration.
Speaking about the company’s progressive plan towards aiding for the nation’s growth and making steel an ultimate material of construction…
We have with us the man-of-the hour….
V R SHARMA, MANAGING DIRECTOR, JINDAL STEEL & POWER LIMITED
Q. Being amongst the top steel companies in India, what is your take on the Indian Steel Construction Industry?
A. As the desire for eco-friendly buildings has increased, the usage of prefabricated steel structure has become prominent & most convenient construction method in India. In addition to bring about construction in an eco-friendly manner, the prefabricatedsteel structure provides flexibility in building designs, helps speedy execution with minimal workforce.
We have witnessed a shift towards structural steel-based construction methods in Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, Haryana, Delhi etc, majorly due to shortage of workers and scarcity of construction materials. We see such trends in NOIDA also and believe that the rest of India will eventually follow the same. In the coming decade, I foresee a widespread adoption of steel structureas a major construction material in buildings and housing.
Q. JSPL has a vast portfolio of steel products. What is the USP of the products offered by you?
A. The company’s product portfolio spans across the steel value chain from widest flat products, HR Coils and Plates to a whole range of long products including speciality rails. JSPL exports its diversified product portfolio to more than fifty countries. Customisation is at the core of all our product development and our global technology excellence ensures the best-in-class offerings for our valued customers.While the heavy structures are (Rolled & Fabricated) suitable for Power Plants, Railway bridges, Refineries, Steel Plants and High-rise buildings.
Q. Can you please throw light on your manufacturing facility and its production Capacity?
A. Jindal Steel & Power Ltd is the third largest private Steel and Iron Company in India with a total installed steel capacity of 9.60 MTPA at Angul and Raigarh. In addition to this, JSPL is into manufacturing of Pellets from Iron ore fines at Barbil with a capacity of 9MTPA.
Q. What makes JSPL different from its contemporaries?
A. Jindal Steel and Power is known as a leading ‘Infrastructure Steel Company’ which itself differentiates JSPL from itspeer groups. JSPL’s Product mix of widest Plate & Coils and long-steel are being widely used in various infrastructure developments promoted by the Government of India. Apart from that, JSPL is the sole private sector supplier for speciality Rails to the Indian Railways/Metro Rails.
Q. What are the challenges faced by our Steel Industry today?
Steel and Iron sectors globally result in almost 7 per cent of total CO2 emissions, therefore, radical changes in technologies are required for iron and steel production to make the process greener and more sustainable.
- Technologies like Coal Gasification should be adopted in steel making. Jindal Steel and Power Limited (JSPL) is already using the coal gasification technology at its Angul plant in Odisha.
- To promote a circular economy, we need to use scrap to produce steel. The government may consider immediate rollout of the “One Nation One electricity tariff” policy so that the scrap can be melted in different regions with uniformity in electricity tariff.
- The matters pertaining to the rationalisation of duties, taxes and royalties are to be addressed to keep the Indian Steel industry competitive in the international market. People are not showing much interest to relocate to steel plant locations and working in the steel industry, therefore, the steel industry is facing a shortage of skilled workforce.
- Steel Plants in India are in remote areas with several logistic challenges. A relative cost disadvantage for Indian steelmakers is ₹1200/1500 per ton of finished steel.
- Encouraging R&D in the sector: Preparing for the future: innovation, technological advancements, utilization of heat & energy, decarbonisation, by-product management and green steel etc
Q. ‘Make in Steel for Make in India’ is an initiative by the Government of India. How do you think this will benefit the Indian Steel Construction Industry?
A. Make in India’ initiative will transform India into a Global Design and Manufacturing Hub. Government initiatives such as ‘Smart Cities,’ ‘Housing for All’ as well as the building of industrial corridors will boost India’s steel demand definitively. Further, considering the wide usage of steel structures in construction sector, I am sure, the steel structure is going to be the future of the housing & building material.
Q. How do you think technology has or will transform steel construction?
A. Structural steel is considered to be a modern construction technology, which has several advantages such as high tensile strength, ductility, toughness, lightweight, material convenience, easy and faster construction process, and recyclability etc. Therefore, usage of structural steel is the most preferred choice in the construction sector.
Q. What are your current priorities and your action-plan to achieve them?
A. JSPL has forayed into the Construction Solutions Business to harness the potential for the need of lighter, faster, easier, affordable and environmentally friendly methods of construction. Our product profile encompasses a wide variety of structural steel products ranging from basic E250 and E350 grade fabricated structures to special engineered products like High Tensile Strength E550 and E450 MPA fabricated steel structures and Hot Rolled Sections for various structural steel requirements for bigger & clear span structures which ensure optimum steel consumption and reduce project gestation period and overall cost.
Q. What are your plans for the next 5 years?
A. We believe that there has been no better time to be in the steel business. As India develops and urbanises rapidly, the demand for steel is expected to rise in the coming years. This will be complemented by the efforts of the government, aligned to the National Steel Policy ambitions. We are also seeing industry consolidation, which would translate to a more formalised ecosystem for steel in the country and better industry cooperation.
We will achieve this through consistent deleveraging, pursuing growth opportunities by adding 6 MTPA of capacity by 2025 (Total capacity will be 15 MTPA by 2025), and build on our value-accretive specialty steel segments of rail and infrastructure.
Q. What is your Success Mantra?
A.Capacity utilisation and lowest cost of production.
