Jindal power to invest Rs 50K crore in Chattisgarh

NAYA RAIPUR (CHHATTISGARH): Jindal Steel and Power today said it would invest Rs 50,000 crore in Chhattisgarh.

"We have already invested Rs 25,000 crore in the state and would add another Rs 50,000 crore", Navin Jindal Chairman, Jindal Steel and Power said without specifying any timeframe.

JSPL currently has a steel making capacity of 3 million tonnes per year (MTPA) and power generation capacity of nearly 2,500 MW.

It is aiming at having 20 MTPA steel making capacity by 2020 and power generation capacity of over 21,000 MW (together with its subsidiary Jindal Power).

The company has also decided to expand its existing 1000 MW thermal power plant at Raigarh in the state to 2400 MW.

Recently, it acquired Canada's CIC Energy, which has mines with reserves of 2.6 billion tonne of high quality thermal coal in Botswana, for over Rs 600 crore as part of the company's efforts to ensure fuel security.

Besides Mozambique and Botswana, the company also has coal mines in Australia, Indonesia and South Africa.