Jindal Power to raise Rs 7,000 cr, expand steel and power capacity
Jindal Power, a subsidiary Jindal Steel and Power, is likely to raise Rs 7,000 crore through initial public offer (IPO) in the next six months. According to the Executive Vice Chairman and Managing Director Naveen Jindal, the company will augment its power generation capacity to 6,000 MW in three years from the current 2,000 MW.
The company also has plans to increase steel production capacity to 10 million tonne per annum in three years from the present 3 million tonne per annum. JSPL will also invest US$ 2.1 billion in a mining project in Bolivia, South America. The company has been granted approvals and 3,000 acres of land to develop the El Mutun iron ore deposit and set up a steel plant in Bolivia's Santa Cruz area.
The company also has plans to increase steel production capacity to 10 million tonne per annum in three years from the present 3 million tonne per annum. JSPL will also invest US$ 2.1 billion in a mining project in Bolivia, South America. The company has been granted approvals and 3,000 acres of land to develop the El Mutun iron ore deposit and set up a steel plant in Bolivia's Santa Cruz area.
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