Thu, 30 Nov 2023

New Delhi [India], October 3 (ANI): Jindal Steel and Power on Tuesday said it commenced production at the Gare Palma IV/6 coal mine, which is strategically positioned in Chhattisgarh.

In a release on Tuesday, the company said this was a significant development as it marks a vital milestone in its continued journey in advancing its raw material security.

The mine in Chhattisgarh is expected to support the proposed expansion of its Raigarh integrated steel plant to a capacity of 9.6 million tons per annum from the existing 3.6 MTPA.

"The proposed expansion aligns perfectly with the vision of AtmaNirbhar Bharat, as it will substantially bolster India's steel production capacity using our own swadeshi coal," said Bimlendra Jha, Managing Director, Jindal Steel and Power, as per the release.

"We aim to finance this expansion predominantly through internal accruals, ensuring a healthy balance sheet," Jha said. (ANI)

More India News

Access More

Sign up for India's News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!