Jindal Steel and Power's Africa unit said on Thursday it plans to build a $400 million power station in Mozambique and sign an agreement to sell electricity to the southern African country by year-end.
"We can start building immediately after commercial agreement, it's a 30-month project for the 150 megawatt plant," Ashish Kumar, Jindal Africa CEO told Reuters on the sidelines of the World Economic Forum African conference.
Kumar said the company's Chirodzi coal mine in Mozambique, producing around 3 million tonnes per annum (MTPA), could also be ramped-up as planned to 10 million MTPA within 18 months once a global coal commodity price slump reverses.
The open cast coal mine with a proven reserve of 700 million tonnes and an expected life-of-mine of 25 years, exported its first shipment of coal in the first quarter of 2013.
Lower global coal prices and logistics constraints have dented Mozambique's ambitions to export its massive coal reserves, although Brazilian miner Vale SA will start exporting coal in the third quarter.
Source: ET
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
![Steel Insights](/assets/images/news/coal-insights.jpg)
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
![Steel Insights](/assets/images/news/ICMW_Jan09.gif)
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
![Steel Insights](/assets/images/news/ISMW.gif)
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
![Steel Insights](/assets/images/news/SteelInsights.jpg)
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.