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JSPL plans to bid for iron ore mines in Odisha

24 Aug 2015 Evaluate

Jindal Steel and Power (JSPL) is planning to bid for iron ore mines in Odisha in forthcoming auctions, which are scheduled to start in October-November to ensure raw material supply to its plants. The Naveen-Jindal led firm is planning to expand the production capacity of its plant in Odisha to 6 million tonnes per annum (mtpa) from 2 mtpa by the end of next year.

The 12 mineral-producing states, including Odisha, will auction 82 mining blocks that contain minerals such as iron ore, bauxite, limestone by October-November. The government passed a new law (MMDR Amendment Act, 2015) in March this year to pave way for auction of iron ore and non-coal mineral mines in States.

Jindal Steel & Power is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

 

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