Aim to ramp-up production from Angul, improve EBITDA: JSPL

Jindal Steel and Power has managed to repay its outstanding interest dues to lenders, using a large part of the proceeds of the sale of two of its oxygen plants to SREI Equipment Finance last week.

Now not even one rupee of interest payment to bank is overdue form our side, said Naveen Jindal, Chairman, JSPL to CNBC-TV18, adding that all their accounts are now standard and current.

Talking about sale of other assets, he said whenever the right offer comes, we will look at it but currently they are keen on ramping up production from Angul in Odisha.

The aim is to produce 300 percent more from Angul, that what we produced last month, said Jindal. He said every month they would strive to produce 25-50 percent month and in March it would be 300 percent more than last month, which would be around 3 lakh tonnes per month and by April it would be 4 lakh per month.

With this ramp-up the EBITDA would increase for JSPL, costs would also go down, said Jindal.