It is reported that High Court of Bombay Nagpur Bench has approved all the three schemes of arrangement providing for merger of various units like Sinter Plants, Steel Melt Shop, Rolling Mills, Sponge Iron Plants and Power Plants owned by Inertia Iron and Steel Industries Private Limited, Abhijeet Infrastructure Limited and Corporate Ispat Alloys Limited situated at Siltara, Raipur with Jayaswal Neco Industries Ltd with retrospective effect from April 2008.

With the approval of the above merger, the Steel Plant Division of Jayaswal Neco Industries Ltd has become an Integrated Special and Alloy Steel Producer with Iron making capacity of more than 1 million tonne. The finished Steel capacity of the Steel Plant Division has increased to 500000 tonnes capacity. This integrated Steel Plant has its own 45 MW capacity Power Plant. The company is adding another 6 MW waste heat recovery Power Plant based on coke oven gas.

The post merge gross block of assets has increased to INR 1534 crores and Networth to INR 588 crores. The company has posted a turnover of INR 913 crores, net profit of INR 48 crores and cash profit of INR 93 crores in merged entity during the half year ended on September 30th 2009.

Besides the above mentioned, NECO group has additional Steel making capacity of 400000 Tons per annum for production of Hot Roll Strips at Siltara, Raipur.

Jayaswal Neco Industries Ltd. through its subsidiary Raigarh Energy Ltd is implementing 300 MW Thermal Power Plant based on its captive coal mines at the Pit head near Raigarh in Chhattisgarh. The land acquisition is in advance stage and the company is expecting the financial closure to be completed by April 2010.

Jayaswal Neco Industries Ltd. is also planning to install 300000 tonnes capacity DRI/ Sponge Iron Plant along with 50 MW Power Plant. The coal for DRI Plant shall be supplied from the captive coal mine where the capacity is also being augmented to meet the requirement of Power Plant as well as DRI Plant.