To secure raw material for its operations, domestic steel
giant JSW Steel
looks to grab the maximum number of coal
blocks out of six being auctioned for the iron and steel
The e-auction of six coal
blocks, of which five are located in Jharkhand
and one in Madhya Pradesh, for iron and steel
started on Friday. The e-bidding is scheduled to end on July 14.
A JSW Steel
official, who did not wish to be quoted, said, "For Jharkhand, we are very aggressive. We have already announced a plant there and in Odisha.
In Jharkhand, whatever is put on auction we will participate."
In the fifth tranche of coal
block sale for the production of iron ore and steel, the government has put under the hammer five mines -- Brahmadiha, Choritand Tiliaya, Jogeshwar & Khas Jogeshwar, Rabodih OCP and Rohne -- located in Jharkhand.
has got environment clearance for a 10 million tonnes per annum (MTPA) capacity integrated steel
unit and a 900 mw captive power plant to be built at an estimated cost of Rs 35,000 crore in Jharkhand.
The company last month said that it was pursuing various approvals and clearances for setting up the 10 MT project in phases.
To enhance its raw material security, the company had participated in the auction of iron ore mines last year too and won five iron ore blocks in Karnataka and one coking coal
mine in Jharkhand.
Apart from bidding for coal
mines in mineral-rich Jharkhand, the company will also bid for Urban North coal
block in Madhya Pradesh, the source said.
"We are aggressive. We will try to win as much as we can," the source added.
Getting more blocks will further enhance the group's raw material security and lead to integrated and efficient operations, the source said.
has been looking aggressively to secure raw material like coal
and iron ore for its plants.
Its board last month had approved a plan to set up a Rs 2,100 crore slurry pipeline in Karnataka to transport iron ore and coal
for its 12 MT integrated steel
plant in the state.
The company plans to spend Rs 26,800 crore to take its capacity to 23 million tonne per annum (MTPA) by March 2020, its Chairman Sajjan Jindal has said.
is one of the country's leading integrated steel
manufacturers with a capacity of 18 million tonnes per annum.
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