Jindal Steel & Power (JSP) has initiated production at the Gare Palma IV/6 coal mine located in Chhattisgarh. This operation signifies a step in JSP’s ongoing efforts to enhance its raw material security. Moreover, this mine will support the proposed expansion of the Raigarh integrated steel plant from its current capacity of 3.6 Million tons per annum (MTPA) to 9.6 MTPA.
Bimlendra Jha, Managing Director of Jindal Steel & Power, said, “The proposed expansion aligns perfectly with the vision of AtmaNirbhar Bharat, as it will substantially bolster India’s steel production capacity using our own swadeshi coal. We aim to finance this expansion predominantly through internal accruals, ensuring a healthy balance sheet.”
However, shares were down by 0.56 per cent to ₹696.95 at 12.57 p.m. on the BSE.