Companies

Jindal Steel to set up power project in Liberia

Our Bureau Kolkata | Updated on March 12, 2018 Published on September 10, 2013

Jindal Steel & Power Ltd (JSPL) will set up a (175x2) 350-MW power project in Liberia. The company signed an MoU with the Liberian Government on Tuesday for the project.

Ravi Uppal, MD & CEO of JSPL, told Business Line over phone that the agreement will be positive for a separately proposed iron ore mining project in the African country.

A delegation headed by Liberian President Ellen Johnson Sirleaf visited JSPL’s steel and power units at Raigarh in Chhattisgarh on Tuesday.

JSPL is currently in negotiations with Liberian authorities for the iron ore asset there. It proposes to acquire the exploration and mining rights of the Wologisi asset, located in Lofa County. A Chinese miner is also reportedly in the fray.

Uppal said JSPL would have to source thermal coal for the proposed project from its own interests in Africa. “The project work will start within six months. At present, the project site has not been finalised. Thus it’s premature to predict the project cost,” he added.

The logistics for sourcing coal and the availability of water, the other crucial element for the project, will eventually determine the cost. The selection of site will influence the cost of both the factors. If the project is located on the coastal region, seaborne logistics and desalination costs would influence the project cost, a source indicated.

Jindal Africa has established its headquarters in Johannesburg.





>jayanta.mallick@thehindu.co.in

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Published on September 10, 2013
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