Indian group Jindal Steel & Power plans to import 500,000 tons of coal from Mozambique

28 January 2013

Indian group Jindal Steel and Power Ltd (JSPL) plans this year to import 500,000 tons of coking coal mined at its concession in Mozambique, the group’s chief financial officer (CFO) told Indian newspaper the Business Standard.

Sushil Maroo noted that coking coal was one of the main commodities needed to produce steel and added that this year the group planned to import a total of 1 million tons of coking coal for its steel plants.

The CFO said that international operations accounted for 10 percent of the group’s turnover and that this percentage was expected to increase in the near future. He added that the group planned to make more acquisitions, particularly in Africa, “and several proposals have been presented to us, which we are analysing”.

The group’s mining concession in Mozambique will produce coking and thermal coal and, under the terms of an agreement that was reached with the Mozambican Energy Ministry, the group is considering building a 2,640 megawatt power plant, the feasibility study for which is currently being carried out. (macauhub)