Jindal

Jindal Steel on Friday said it has bagged a 50-year mining lease for the Roida-I iron ore and Manganese block located in Keonjhar district of Odisha. The company has secured a letter of intent (LoI) from the Odisha government for the grant of the said mining lease, Jindal Steel said in a statement. Spread across 104.84 hectares, this mineral resource significantly enhances Jindal Steel's raw material security and underscores the company's commitment to integrated and sustainable steel production in India's mineral-rich eastern corridor, the statement added. "This mining lease is a critical enabler for our long-term vision of self-reliant steel production. With the Roida-I block, we are significantly bolstering our iron ore and manganese supply base, which will ensure operational stability, cost efficiency, and support our growth plans," Pankaj Malhan, Executive Director, Jindal Steel, said. The Roida-I Iron Ore and Manganese Block comes with an environmental clearance capacity of 3

Jindal India Renewable Energy on Monday said it has secured a Letter of Acceptance for a 300 MW solar plus storage project from state-owned NHPC. The project is to be executed on a Build-Own-Operate (BOO) basis within 24 months from the signing of the Power Purchase Agreement (PPA), the company said in a statement. The project is part of NHPC's 1200 MW inter-state transmission system-connected solar power projects tender with 600 MW/1200 MW energy storage systems. An Energy Storage System (ESS) of 600 MW/1200 MW means 600 MW of battery energy can provide power backup for two hours, giving a total output of 1200 MW, it said. Jindal India Renewable Energy (JIRE) has bagged the 300 MW capacity at a tariff of Rs 3.09/kWh (kilowatt hour). NHPC will enter into an agreement with JIRE for a period of 25 years. The Navratna company will purchase solar power from JIRE and sell it to state utilities and others. JIRE is part of the BC Jindal Group which has over the period grown from a steel

To strengthen its global presence, homegrown Jindal Group is talks with Vitkovice Steel to acquire 100 per cent stake in the Czech-based company. The group is expected to complete the acquisition by the end of this fiscal year through its arm Jindal Steel International, sources said. It will be Jindal Group's first acquisition in Europe. The Naveen Jindal-owned business house already has significant presence in geographies like Australia, Mozambiquie and Oman in sectors such as steel, power and mining. "The management of the two sides are in active talks for the deal. As part of the deal, Jindal Group will acquire 100 per cent stake in Vitkovice Steel. This will be Jindal Group's first acquisition in Europe," industry sources said. As per sources, the deal size could be of about 150 million euros (around Rs 1,000 crore), they said. The acquisition of Vitkovice Steel will help the Jindal Group to make a foothold in the European market, which is putting checks in the form of CBAM .

Project is the largest commercial and industrial wind energy order in India, say companies

Savitri is the mother of industrialist Naveen Jindal, the Bharatiya Janata Party (BJP)'s Kurukshetra MP, and the widow of industrialist O P Jindal

JSW MG Motor India intends to move away from conventional internal combustion engine vehicles as it focuses on new energy vehicles for the future, company Director Parth Jindal said on Wednesday. The company, which on Wednesday launched its electric crossover utility vehicle 'MG Windsor' -- the first launch after JSW Group invested in MG Motor India -- has set a target to introduce a new car every four to six months and is eyeing over 50 per cent of its total sales to come from electric vehicles in 2024. "We want to bank on the new energy vehicles (NEVs). So, whether that is strong hybrid, plug-in hybrid, or battery electric vehicles, these will be the cornerstone of MG going forward," Jindal said in an interaction with reporters on the sidelines of the launch. He further said, "The traditional ICE (internal combustion engine), as we call it, without even a mild hybrid option, is something that we want to do away with. We are not very keen on bringing that into the country." Howeve

Founded in 1952, the B C Jindal group is engaged in the manufacturing of steel pipes and pipe fittings

JSW Cement on Tuesday said it plans to invest around Rs 3,000 crore to set up a cement manufacturing facility in Nagaur district of Rajasthan. The greenfield, integrated facility will be funded by a mix of debt and equity, the company said. The investment in the new facility includes a clinkerization unit of up to 3.30 MTPA (million tonnes per annum) and a grinding unit of up to 2.50 MTPA, said a statement from JSW Cement, a part of USD 24.25-billion JSW Group. The new plant will also have an 18 MW waste heat recovery-based power generation system, it added. "The proposed investment will be funded through a mix of equity and long-term debt," it said. This new plant is also expected to create more than 1,000 direct and indirect job opportunities, JSW Cement said. The investment also includes around 7-km overland belt conveyor to transport limestone from mines to the manufacturing plant and arrangements to use alternative fuel in the kiln. JSW Cement Managing Director Parth Jindal

Tower Semiconductors' fresh proposal to open a semiconductor fabrication unit for 65 nm and 40 nm chips in India is facing legal challenge from former Partner Next Orbit Ventures

Only after Reliance Retail conveys its decision to Future Enterprises' creditors about its intent to either continue or walk out of the bidding process, will the bid be opened

Revenue up 16% YoY to Rs 2,596 cr; finance cost rises by 7% due to additional borrowings for ongoing capex

Given the dumping that is happening, the company is working towards increasing its share of exports to 30%-35%

Once fully operational, Jindal Aluminium's extrusion capacity will rise from 125,000 tonnes to 139,000 tonnes. The deal will help revive the local economy, benefit community and other stakeholders

Vulcan is a private company and part of $18-billion Naveen Jindal Group

Leading Indian steelmaker JSW has declared a special rehabilitation and resettlement (R&R) compensation package for the would be affected people before going ahead with its plans to set up a Rs 55,000 crore steel plant in Odisha's Jagatsinghpur district. The R&R compensation package for the project affected people with ration card in the land losing villages of Nuagaon, Gada Kujang and Dhinkia Gram Panchayat, for its integrated steel plant at Paradip, is announced based on discussions at the district, gram panchayat and village level with extensive participation of villagers, district administration and other stakeholders to elicit public opinion, an official said. The Posco project in the same area was withdrawn earlier due to stiff resistance from the local people during the land acquisition activities. The compensation announced now by the JSW is way above the policy provisions outlined in the Rehabilitation & Resettlement Policy, Odisha, 2006, the official said. JSW ...

The project which is expected to be completed by 2023, is being carried out by its subsidiary company JSW Steel (USA) Inc, JSW Steel said in a statement.

: The Andhra Pradesh government on Thursday issued orders allotting 860 acres of land to Jindal Steel & Power Limited for setting up a 2.25- million tonne per annum integrated steel plant at an investment of Rs 7,500 crore. According to the GO, the proposed plant at Thamminapatnam inSPSR Nellore district, is expected to create employment to 2,500 people directly and 15,000 indirectly. The government, after careful examination of the matter, hereby accord permission to APIIC for allotment of land to an extent of 860 acres at Thamminapatnam and Momidi Village of Chilakur Mandal of SPSR Nellore District to Jindal Steel Andhra Limited, as per the rates fixed by APIIC for establishing an integrated steel plant with a condition that R&R charges, if any, shall be borne by Jindal Steel Andhra Limited as agreed by them, the GO said. The OP Jindal Group has a dominant presence in steel, power, mining and infrastructure sectors with a total steel production of 11.6 MTPA and

The company had posted a loss of Rs 36.44 crore in the year-ago period, JSL said in a filing to the BSE

The company had net debt of 460 billion rupees ($7 billion) at the end of December, nearly eight times the company's current market capitalisation, and has been in talks with lenders to reschedule repayments because of "cash flow mismatches"