Jindal Steel and Power bags Rs 500 cr order from Power Grid

Written by PTI | New Delhi | Updated: Jan 24 2013, 19:11pm hrs
Jindal Steel and Power today said it has bagged Rs 500 crore order from Power Grid Corporation of India Ltd (PGCIL) for supply of 80,000 tonnes of steel, which will be used in setting up two transmission towers in

Southern India.

"We are happy to bag the PGCIL order for supplying 80,000 tonnes of steel for setting up transmission towers. Worth Rs 500 crore, the order will be executed from February onwards," a company spokesperson said.

The Naveen Jindal-led steelmaker will be supplying rolled back angle sections for tower packages associated with 765 KV d/c current Vamgiri-Khammam-Hyderabad transmission line and 765 KV d/c Nagapattinam-Salem-Madhugiri transmission line.

JSPL emerged as the lowest bidder for the order, the spokesperson said, adding "it further reinforces the strength, credibility and tenacity of the company's products".

The city-based company currently has a total steel production capacity of 3 million tonnes per annum (MTPA) at its Raigarh plant in Chhattisgarh.

Besides, it also has a 0.6 MTPA wire rod mill and a 1 MTPA capacity bar mill at Patratu, Jharkhand, and a plate mill to produce up to 5 metre wide plates at Angul, Odisha.

The company has chalked out an ambitious growth plan to have 20 MTPA steel making capacity by 2020.

Shares of the company were being traded at Rs 423.85 apiece on the BSE at 1320 hours, down 0.50 per cent from the previous close.