Jindal plans to acquire coal mines

Jindal plans to acquire coal mines

Indian steel producer Jindal Stainless Steel reportedly plans to acquire coal mines that the company will use to supply necessary raw material for its 125 MW power plant project in Orissa. Jindal is looking for mines both in India and abroad. Jindal officials acknowledge that they are in talks with certain companies. The officials say that they are open to securing a deal either by acquiring a majority stake or forming a joint venture. Moreover, the company plans to increase the capacity of its mill in Indonesia by 50'000 tons in order to meet demand.