JINDALSTEL

In 1998, the company name was being changed from Orbit Strips Ltd. to Jindal Steel & Power Ltd. on 12th June. It also joined the Depository System, and its securities could be dematerialized. Also, the Raigarh and Raipur Divisions of Jindal Strips Limited were hived off to JINDAL STEEL & POWER LIMITED according to the Scheme of Arrangement being approved by Hon'ble High Court of Punjab and Haryana. It also issued 14% 60,00,000 Cumulative Redeemable Preference Shares of INR 100/- each aggregating to INR 60 crores on private placement basis. In 2000, the JSPL or Naveen Jindal-controlled Jindal Steel & Power Ltd declared the launch of another company Infovergix Technologies Ltd. that will provide information technology services and solutions. Also, the Round Caster Unit was set up in Raigarh and has been commissioned in May and also started producing Rounds that is an import substitution product. Soon, it entered into an agreement with Maharashtra Seamless Ltd. for selling about 50,000 MT of Rounds annually for the coming 5 years at a competitive price. It also introduced Infovergix Technologies that marks the foray of one more old economy company into the infotech sector.

Some of the Milestones:

• 2001:
• It also set up a Coal Washery of 2.5 million MT capacity at the coal mine to meet the additional need of coal for the Sponge Iron Plant.
• It also introduced a new value-added product, Alloy Steel, rounds that is suitable for the manufacture of seamless tubes.
• It also signed an MOU with the Chattisgarh government to invest INR 6,400 crore in several projects in the state in the coming 7 years.
• 2002: It also declared that the Board of Directors had appointed Shri M L Gupta as Wholetime Director of the company, since December 23, 2002.
• 2003:
• Jindal Steel & Power, which is an OP Jindal Group, has also converted INR 200cr of debt to foreign currency loans.
• It also posted a net profit of INR 144.9 million as compared to INR 263.7 million for the same period as last year.
• 2005:
• It signed an MOU with the Government of Chhattisgarh as of January 07, 2005.
• It signed an MoU with Jharkand Government as of July 05, 2005.
• It signs an agreement with South African, German cos for coal gasification facility at its proposed six-million-tonne steel plant in Orissa.|
• 2006: Also, Bolivia signs a JV deal with Jindal for El Mutun's development.
• 2009: It also appointed Shri. Arun Kumar as an Additional Director (Independent) since September 16, 2009, to hold office up to the date of the next Annual General Meeting of the Company.
• 2010:
• JSPL, via its 100% subsidiary Jindal Steel & Power (in Mauritius) Ltd, Mauritius, (JSPLM) also agreed to acquire Shadeed Iron & Steel Co. LLC (Shadeed).
• It is the highest corporate taxpayer in the northwest region.
• It also began its Unit II of 135 MW power generation capacity set up at Dongamahua
• Its power unit gets in-principle green Nod.
• Also, JiSPL ranked as number 25 in the list of Super 100 companies in India.
• 2011:
• It ranked 3rd in the metals categories of Businessworld's India's most respected company survey.
• It introduced an on-market cash offer to acquire Rocklands Richfield.
• It ranks 37th in the annual THE BW REAL 500 top companies of India.
• Also, Jindal Steel Bolivia starts the dispatch of iron ore from EL-Mutun mines, Bolivia.
• 2012:
• It started commercial operation of the 4th Unit of 135 MW power at Dongamahua, Raigarh (Chhattisgarh).
• Its commercial production of India's widest 5.0-meter wide plate Mill production at Angul Integrated Steel plant.
• It acquires CIC's, Energy Corp. Canada having 6 Billion Tonn coal resources in Botswana.
• It is among India's Top 40 Fastest-Growing Companies.
• 2013:
• It acquires over a 30% stake in Gujarat NRE Coking Coal.
• It also gains about 4% on plans to commission the 2-MTPA steel plant in Oman.
• It was awarded by the World HRD Congress with the prestigious Best Leadership Development Program for Top Management in 2013, and at Asia’s Training & Development Excellence Awards 2013, being held in Singapore.
• It also acquired a majority stake in Gujarat NRE.
• 2014:
• The Jindal Shadeed commissions about 2 MTPA Integrated Steel Plant in Oman.
• It won the Bolivia Project.
• 2015:
• It received the International Safety Award from British Safety Council, the UK.
• Its steel to Power Construction of India’s Fastest 33 Storied Building within 99 days.
• Its foundation joined hands with the habitat for humanity India To Help in J&K Disaster Relief.
• 2016:
• It won a vital CSR award.
• It won a prestigious CSR award.
• 2017:
• It provided assurance of early deliveries to Railways if it bags rail tender.
• It accomplished 250-ton BOF located at the Angul steel plant.