JSPL secures 0.5 mtpa coal supply for sponge iron units

NEW DELHI: Jindal Steel and Power Ltd ( JSPL) today said it has secured long-term coal linkage of 0.5 million tonnes per annum for its sponge iron units.

"The company has secured long-term coal linkage of a total quantity of 0.5 million tonnes per annum for the next 5 years in the recently-concluded coal linkage auction under sponge iron sub-sector, conducted by Coal India Ltd," Jindal Steel & Power Ltd said in a regulatory filing.

"This sourcing of coal will help the company secure fuel requirements and smoothen operations of its sponge iron units."

The company, in August 2016, had secured long-term coal linkage of 1.18 mt per annum (mtpa) for power plants in Chhattisgarh.

"...with this linkage in sponge iron sub-sector, the total coal linkage capacity of the company will be 1.68 mtpa," it added.

JSPL was trading 4.79 per cent higher at Rs 83.20 on BSE.