Jindal to acquire coal mines in Indonesia
Indian steelmaker
Jindal Stainless Ltd is reportedly in talks with the Indonesian government to acquire coal mines in the country in an effort to meet its raw material requirement.
Company officials stated that the talks with the Indonesian government are at an advanced stage.
Jindal Stainless will acquire the mines through forming a joint venture or through taking over complete management of the mines.
The takeover will help the company provide raw material to its new steel projects.
Jindal is planning to build a steel plant in Orissa, which consists of 150'000 tons of ferro-chrome; 40'000 tons of ferro-manganese, and 60'000 tons of silico-manganese. Moreover, a coke oven battery of 300'000 tons will be established under the scope of the project.