
JINDAL PLANS $25 BILLION PROJECTS IN INDIAN AND BOLIVIAN STEEL, IRON AND POWER . . .
Jindal Steel (New Delhi/Bombay, India) is moving on major project plans in the steel, iron ore and power sectors. In the third week of July, managing director Naveen Jindal said that the company was planning a 6 million tpa steel plant in Orissa and 3 million tpa steel plants in both Jharkhand and Chhattisgarh. The company is also planning to double the production of its existing 3 million tpa plant in Raigarh over the next three years. By 2015 the group is planning to invest $14 billion in the steel sector
Jindal is also investing $2.1 billion in Bolivia to set up an integrated steel unit with a capacity of 1.7 million tpa of long products and 6 million tpa of reduced sponge iron. The unit will also have a 10 million tpa pellet plant and a 450-MW power plant, which will be guaranteed a low cost gas feed. Commercial steel production will begin in 2010.