Abhijeet Integrated Steel Ltd (Formerly known as Jagannathpur Steel Ltd) has submitted plans to set up integrated steel plants with a total annual capacity of 10Mt/y in West Bengal, NE Jharkhand and Maharashtra in the west of India.
The plants will be backed by captive coal mines thereby ensuring consistent availability of raw material both in terms of quality and quantity. Moreover, the allocation of coal mines for captive use makes the ventures of the company into iron and steel and allied products highly cost competitive. The product range will comprise of DRI, steel billets, HR Coils, TMT Bars to equal angles and others.
Currently, the company is in the process of setting up the first plant in Jharkhand state with a capacity of 1.2t/y at a capital outlay of Rs590M ($10.9M). It is to be named Abhijeet Integrated Steel Ltd (AISL).
In addition, environment clearance has been granted by the MoEF to build a 2.5Mt/y integrated steel plant along with 280MW power plant in Jharkhand. Designated Ispat Alloys Limited (CIAL), the project is in two phases with the first consisting of a 400kt/y DRI plant along with a 60MW power plant with coal supplied from the Chitarpur captive coal block (under development) allocated to the company.
The Abhijeet is also involved in ferro alloy production, mining, power generation, cement manufacture and road construction.
In February 2012 it commissioned India’s largest ferro-alloys plant in the coastal town of Visakhapatnam.