Jindal Steel & Power is planning to set up a new pellet plant at Angul in Orissa.

The project, estimated to cost Rs 1,400 crore, will have seven million tpa capacity. The company has already obtained clearance from the state government for the proposed plant. The project is part of the company's expansion plan at Angul, where the company is expanding its steel-making capacity to 3.5 million tpa from the existing 2.5 million tpa. As per its expansion plan, Jindal Steel & Power will also install a blast furnace, another DRI (Direct Reduced Iron), and another coke oven battery at Angul. To finance the project, the company is in talks with prospective banks.

The company already has a 4.5 million tpa pellet plant at Barbil in Orissa and is in the process of doubling the capacity.

Currently, the company has around 50 million tpa pellet capacity and with the ongoing expansions, it will go upto 70 million tpa in the next five years.

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