Jindal Steel & Power (JSP) is delighted to announce the successful commencement of production at the Gare Palma IV/6 coal mine, strategically positioned in Chhattisgarh, the company on Tuesday announced through an exchange filing.
This significant development marks a vital milestone in JSP's continued journey in advancing its raw material security.
This mine will also support the proposed expansion of its Raigarh integrated steel plant to a capacity of 9.6 Million tons per annum (MTPA) 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. We aim to finance this expansion predominantly through internal accruals, ensuring a healthy balance sheet”, said Mr Bimlendra Jha, Managing Director, Jindal Steel & Power in a statement.
Jindal Steel & Power Limited shares
The shares of Jindal Steel & Power Limited at 1:19 pm IST were at Rs 700.05, down by 0.19 percent.