Jindal Steel surges on inking MoU with the Liberian Government

Jindal Steel & Power (JSPL) has entered into Memorandum of Understanding (MoU) with the Liberian Government to set-up (175x2) 350-MW power project in Liberia. The agreement will be positive for a separately proposed iron ore mining project in the African country.

At present, JSPL is in negotiations with Liberian authorities for the iron ore asset there. It proposes to acquire the exploration and mining rights of the Wologisi asset, located in Lofa County. A Chinese miner is also reportedly in the fray.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.