FE reported that Mr Navin Jindal is on a week long visit to Bolivia to give a push to his plans of investing USD 2.1 billion in the next few years in mining and setting up an integrated 1.7 million tonne per annum steel plant, 6 million tonne per annum sponge iron plant, a 10 million tonne per annum iron ore pellet plant and 450 MW power plant in the South American nation.
With development rights for 20 billion tonne of El Mutun Iron Ore Reserves in Bolivia, Jindal Steel & Power plans to invest more in the country.
An Indian diplomat said that Indian engineers here are passionate about making steel and are determined to overcome technical and logistical challenges and are also training the local people and interacting with them in Spanish with lot of enthusiasm.
Company officials said that this will be the largest investment by an Indian company in South America and also the largest investment by a foreign company in a single project in Bolivia.
The project is expected to generate employment for thousands of people while also catalyzing economic growth for the Republic of Bolivia. The company has already secured land to start the project and expects to start exporting iron ore shortly. With the commercial dispatch of iron ore likely to commence soon in Bolivia, the company will start construction soon on the DRI, pelletization and steel projects. These are expected to become operational in the next 3 to 4 years.
The direct reduction plant will be the largest single module facility in the world and the Ultra Mega Mod DRI will produce both hot direct reduction iron and hot briquetted iron for a newly proposed Greenfield meltshop. Jindal Steel will provide its own iron ore and iron pellets from its El Mutun iron ore reserves. This is Jindal’s third DRI plant built in the last two years.
The company built a 1.8 million tonne coal gasification plant in Orissa and 1.5 million tonne gas based HBI plant at Sohar Industrial Port area of Sohar, Oman. JSPL is reaching out to the global market with a range of investment strategies. The company continues to capitalize on opportunities in high growth markets expanding its core areas and diversifying into new businesses. (sourced from FinancialExpress)
With development rights for 20 billion tonne of El Mutun Iron Ore Reserves in Bolivia, Jindal Steel & Power plans to invest more in the country.
An Indian diplomat said that Indian engineers here are passionate about making steel and are determined to overcome technical and logistical challenges and are also training the local people and interacting with them in Spanish with lot of enthusiasm.
Company officials said that this will be the largest investment by an Indian company in South America and also the largest investment by a foreign company in a single project in Bolivia.
The project is expected to generate employment for thousands of people while also catalyzing economic growth for the Republic of Bolivia. The company has already secured land to start the project and expects to start exporting iron ore shortly. With the commercial dispatch of iron ore likely to commence soon in Bolivia, the company will start construction soon on the DRI, pelletization and steel projects. These are expected to become operational in the next 3 to 4 years.
The direct reduction plant will be the largest single module facility in the world and the Ultra Mega Mod DRI will produce both hot direct reduction iron and hot briquetted iron for a newly proposed Greenfield meltshop. Jindal Steel will provide its own iron ore and iron pellets from its El Mutun iron ore reserves. This is Jindal’s third DRI plant built in the last two years.
The company built a 1.8 million tonne coal gasification plant in Orissa and 1.5 million tonne gas based HBI plant at Sohar Industrial Port area of Sohar, Oman. JSPL is reaching out to the global market with a range of investment strategies. The company continues to capitalize on opportunities in high growth markets expanding its core areas and diversifying into new businesses. (sourced from FinancialExpress)
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