Abhijeet Group signs $7 billion multi-year coal pact with US based FJS Energy

NEW DELHI: New Jersey based FJS Energy LLC has signed a $7 billion (Rs 39,200 crore) multi-year coal supply agreement years with India's Abhijeet Group.

FJS Energy would supply American coal for the next 25 years for steel production and power generation in India. The coal would be sourced from FJS Energy's affiliates, FJSE Marshall Inc and FJSE River Coal, an official statement said.

FJS Energy Chairman M P Narayanan said, "The deal with the Indian group, besides strengthening trade and business relationship between both the countries would also benefit both the companies optimally."

Abhijeet Group executive director Anand Kumar said, "The import of coal will help us meet India's increasing demand for energy and steel. This partnership is an example of the strong potential between American producers and Indian customers."