Jindal Steel and Power, on Tuesday, announced that its two million tonnes per annum (mtpa) plate mill at Angul in Odisha has commenced commercial production.

The company is targeting to produce 15,000 tonnes in the next month and then increase the production gradually, the company said in a statement issued here.

The plate mill is a part of the proposed 6 mtpa steel plant at Angul. Plates are used in areas such as oil and gas, water pipeline, shipping, infrastructure and power equipment making.

The combined project cost for the plate mill along with the 1.6 mtpa steel melting shop (SMS) is Rs.4,923 crore. “SMS is likely to be commissioned towards the end of 2012-13.

This project has been funded on 2:1 debt-equity and debt of Rs.3,282 crore has been funded by consortium of Indian banks.

More In: Companies | Business