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JAN 31 2017

JSPL secures 0.5 mt coal linkage for sponge iron units

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 31st JAN 2017

Jindal Steel and Power Ltd has secured long-term coal linkage of 0.5 million tonnes per annum for its sponge iron units.

“The company has secured long-term coal linkage of a total quantity of 0.5 million tonnes per annum for the next 5 years in the recently-concluded coal linkage auction under sponge iron sub-sector conducted by Coal India Ltd,” Jindal Steel & Power Ltd said in a regulatory filing today.

“This sourcing of coal will help the company secure fuel requirements and smoothen operations of its sponge iron units.” The company, in August 2016, had secured long-term coal linkage of 1.18 mt per annum (mtpa) for power plants in Chhattisgarh.

“...with this linkage in sponge iron sub-sector, the total coal linkage capacity of the company will be 1.68 mtpa,” it added. JSPL stock was trading 4.79 per cent higher at Rs. 83.20 on the BSE.

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