JSPL to soon tie-up technology partner for Angul CTL plant

Jindal Steel and Power today said that it is close to tying up a technology partner for setting up Rs 55,000 crore-Coal-to-Liquid (CTL) plant at Angul in Odisha. The Delhi-based company has already short listed three companies and said that the tie-up could be with a European or an American firm, but did not reveal more details.

CTL plant will help the company to produce methanol, petrol and diesel from coal. The plant, which is likely to come up by 2019 is being set up near a Ramchandi coal blocks, which were allotted to JSPL few years back. The CTL plant will have a capacity of 80,000 bbl per day, JSPL said.

Also read: Lack of transmission lines hampering power production: JSPL

The steel maker is eyeing technology partners like GE, Synthesis Energy, UHDE, Siemens, ConocoPhillips and KBR. It however is not eyeing any equity partnership with the company providing the technology.

JSPL is planning to invest Rs 23,000 crore in next three years to increase its steel making capacity to 14 million tonne, according to a PTI report. Of this, about Rs 14,000 crore will be invested on the company’s upcoming 6 million tonne (MT) steel plant in Odisha.. The company has plans to commission the first phase of the plant, having 1.8 MT capacity, in the next quarter, while rest of the units will get operational by 2015.