Business

Having established itself in India, Jindal Steel & Power Limited is now reaching out to the global market with a range of investment strategies. The company continues to capitalize on opportunities in high growth markets, expanding its core areas and diversifying into new businesses. 

With the development rights for 20 billion tonne of El Mutun Iron Ore Reserves in Bolivia, JSPL plans to invest US$ 2.1 billion in the next few years on mining and on setting up an integrated 1.7 MTPA Steel Plant, a 6 MTPA Sponge Iron plant, a 10 MTPA Iron Ore Pellet Plant and 450 MW power plant in the South American nation.

This will be the largest investment by an Indian company in South America and also the largest investment by a foreign company in a single project in Bolivia. The project is expected to generate gainful employment for thousands of people while also catalyzing economic growth for the Republic of Bolivia.

The company has already secured land to start the project and commercial dispatch of iron ore has commenced in Bolivia. The company will start construction soon on the DRI, pelletisation and steel project. These are expected to become operational in the next 3-4 years.

Jindal Steel Bolivia (JSB), a subsidiary of Jindal Steel and Power Limited (JSPL), reached a historical landmark as the company commenced dispatch of iron ore from its El-Mutun mines in Puerto Aguirre, a river port in Bolivia. Iron ore from here will be transported to different destinations through the Parana Paraguay Hidrovia riverway. This is for the first time that iron ore from JSB will be exported. JSB will be exporting iron ore, mainly to China, Middle East, European and South American countries.

A joint venture agreement was signed between Jindal Steel Bolivia S.A (JSB), a subsidiary of the company and Empresa Siderurgica Del Mutun (ESM), a Government of Bolivia entity and is valid for 40 years. The Bolivia project is anticipated to generate gainful employment for thousands of people and catalyze economic growth of the Republic of Bolivia.

Investment in Bolivia US $ 2.1 billion in next 8 years

• Pellet Plant: 10 MTPA
• Sponge Iron Plant: 6 MTPA
• Steel Plant: 1.7 MTPA
• Power Plant: 450 MW

CSR Activities at JSB

JSB has taken up several CSR initiatives in the surrounding mining areas. Some of the areas where the company has actively involved itself include:

Health

• JSB has formed several medical and paramedical teams carrying out comprehensive medical check-ups of locals including distribution of free medicines.
• The teams work in harmony with the hospitals and medical institutions of the area and offer assistance to people free of cost.

Community Development Programs

• Around 6,200 pets and street animals vaccinated.
• Over 200 ceiling fans have been distributed in various schools of Puerto Suarez and Puerto Quijarro.
• Donation for development of sports and games in the German Busch province area.
• Mosquito control and eradication measures (fumigation) have been taken twice-a-year in several areas of Puerto Suarez, Puerto Quijarro and El Carmen Rivero Torrez; reaching 35,000 inhabitants.

Environmental Protection Measures for Employees

• All JSB employees are made to follow mining regulations for health and safety purposes.
• Permanent training is provided to employees in order to follow environmental protection norms as well as in CSR activities.
• Impact of air, water, noise and other pollution levels on the environment is monitored on a monthly basis.
• Dust removal mechanism has been installed at machinery. Periodic irrigation of roads, plant access and platforms for dust suppression.

GTL International S.A.   Jindal Steel and Power Ltd. through its subsidiary in Mauritius has acquired a substantial stake in a local oil & gas company, GTL International S.A. The company is currently engaged in the development of PALMAR FIELD, having estimated recoverable reserve of 24.7 BCF Gas and 0.87 MMBBL of condensate. M/s GTLI has already completed drilling of one well having 3,500 m in depth and expects to commence the supply of 6 mmcfd of “Natural Gas” and 120 bbl of “Condensate” shortly. GTLI has also formed a mixed partnership with the Bolivian State company YPFB, named YPFB GTLI SAM, for exploring 4 blocks (Itacaray, Rio Beni, Almendro and Cupesito).