Jindal Steel and Power (JSPL) is in discussion with Liberia government in order to acquire the West African country’s largest iron ore mine Wologisi. The deal is reported to be worth $2 billion but not been finalized yet. The Wologisi mine is estimated to hold several billion tonnes of iron ore reserves, though they have not yet been certified.
The company will also set up a 150 MW or 175 MW coal-based power plant in the West African country, if the deal goes through. It is also in talks with many African countries for securing iron ore mines.
The firm has reported 24.54% drop in FY13 net profit at Rs 1592.55 crore as compared to Rs 2110.65 crore for the year ended March 31, 2012. The company’s total income has increased by 11.80% at Rs 15113.98 crore for the year as compared to Rs 13518.43 crore for the previous year.
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
| View more.. | |
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