Key Points

Speaking with ANI, on the sidelines of the ISA Steel Conclave in the national capital on Monday, Naveen Jindal, Chairman, Jindal Steel Ltd said "Our target is to produce around 12 million tonnes of steel this year and in the remaining period we are hopeful that we are going to able to increase the production because in September itself we are able to commission our largest blast furnace."

The blast furnace at Angul, Odisha, has a capacity of approximately 4 million tonnes and is scheduled to be commissioned this month.

"Though there are always headwinds but we are working hard and God is very kind to us," he said.

Jindal Steel has three iron ore mines in Odisha--Roida 1, Kasia, and Tensa.

Talking about the support industry is receiving from the government, Jindal said that the industry is very grateful to the government for all the support it provided. As a result, India is the second-largest producer and consumer of steel in the world.

"Going forward, we have the capacity of 200 million tonnes and we want to achieve it to 300 million tonnes by 2030. It's very important that we get all the key raw material especially the iron ore at competitive prices and availability improved so government has to come out with more mines so that we can have availability of iron ore," Jindal added.

Jindal said, India needs to reduce its logistics cost and also steel industry should be given level playing field as compared to other sectors.

"Sometimes we have to pay a lot of money because in India rail transport is cross subsidised. So we pay higher while some sectors pay lower. We also want to have level playing field to produce field comparatively," he said

Responding to a query on the impact of US tariffs on India's steel industry, Jindal said "US tariff doesn't have much impact on the industry. Already, there are very high tariff on the Indian steel going to the US".

On China's act of dumping cheaper steel in India, he said the government has imposed safeguard duties.

"We are hoping it to continue, to safeguard the industry," he said.

Talking on Green Steel Mission, Jindal said that every company is trying to reduce its carbon footprint and they are trying to produce low-emission steel.

"It's a journey and it's not going to be achieved in a day. It's a journey that everybody is embarking upon to achieve it," he added.

- ANI