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JSW Steel plans to invest to develop new coking coal block

JSW Steel, headed by Sajjan Jindal, plans to invest $244 million to create a new coking coal mine in Jharkhand.

JSW Steel plans to invest to develop new coking coal block

A company spokesperson said on March 17 that India's JSW Steel Limited will invest approximately $244 million in developing and commissioning a coking coal production unit that it recently purchased through government auctions.

The spokesperson also added that JSW Steel Limited is the top bidder for a block of coking coal from the eastern state of Jharkhand with estimated reserves of 1 billion tons and is waiting for an official announcement from the government to start the transfer operations.

He said that the unit will be commissioned in 2-3 years and together with the existing Moitra coke unit, also in Jharkhand, it will provide 1 million tons of clean coal per year, which is 6-7% of the total needs of the company's steel plants.

On the challenges of creating a new mine, he noted that the enterprise has extensive expertise in the sector and already operates four mines in Odisha, nine in Karnataka, one lignite mine in Rajasthan, one mine each in Dubai and the USA, and four mines in Rajasthan.

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