In Short:
Jindal Steel, a major steel producer, is changing where it gets its coking coal from to reduce risks and costs. They are cutting back on Australian imports and getting more from Africa and Southeast Asia. The move has already reduced Australian coal usage by over 50%. This change is important because of global uncertainties and disruptions in the supply chain.
Jindal Steel Strategically Diversifying Coking Coal Sources
Exciting news coming your way! The Naveen Jindal-promoted Jindal Steel, known for being one of the largest steel producers in the country, is making some strategic moves. They are all set to diversify their coking coal sources to reduce geographical risks and cost pressures. This is big!
New Coal Supplies from Africa and Southeast Asia
Guess what? Jindal Steel has decided to shake things up by incorporating new coking coal supplies from Africa and Southeast Asia. They mentioned in a recent statement that this bold move has already slashed their consumption of Australian coking coal by more than 50 per cent. Now, that’s what we call impressive!
- Also read: Jindal Steel & Power commissions 6 MTPA hot strip mill in Odisha
Executive Director’s Insight
Pankaj Malhan, the Executive Director-in-Charge of Jindal Steel, Angul, highlighted the importance of diversifying coking coal sources. He pointed out that with global uncertainties and supply chain disruptions on the rise, this move was imperative.
“By reducing our reliance on Australian coking coal imports and ramping up intake from other regions, we’ve not only bolstered our supply chain but also improved cost efficiency. Our coke oven team has been working tirelessly to develop new blends and produce higher-quality coke at a lower cost,” he shared.
Future Plans in the Pipeline
And that’s not all! Jindal Steel isn’t stopping here. They have their eyes set on further diversification of coking coal sources in the near future. The excitement continues!
