The project would be called Naveen Ultra Mega Mod DRI and would be capable of producing around 2.70 million metric ton a year of DRI.
The new unit whose contract was inked earlier in March will be the world"s biggest solitary module of any commercial direct reduction technology.
The filing further stated that the project will have the latest Midrex shaft furnace technology and would be capable of manufacturing both Hot DRI and Hot Briquetted Iron.
Iron Ore and pellets will be supplied from JSB's EI Mutun reserves where the firm is establishing a Pellet and Steel manufacturing unit.
Earlier in 2009, the corporation worked with Midrex Technologies for a 1.8 million ton per year plant at Angul, Orissa.
In related news, two Coal-to-Liquid (CTL) projects promoted by Jindal Synfuels Ltd., which also a subsidiary of JSPL and Strategic Energy Technology Systems Ltd., got the nod from High Level Clearance Authority (HLCA) in Orissa.
At 1:53 P.M IST on Thursday, on the Bombay Stock Exchange (BSE), stocks of the parent firm (Jindal Steel) were trading at Rs. 618.65 down by 0.19 per cent or by Rs. 1.15. The stock has seen an intraday high of Rs 630.00 and a low of Rs. 613.65, till then.