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 Having established a strong base in the domestic market, JSPL is reaching out to gain a global foothold, exploring business avenues in high growth markets.
JSPL has acquired the development rights for 20 billion tonne of EL Mutun Iron Ore Reserves in Bolivia, South America. It plans to invest US $ 2.1 billion (Rs. 10,500 crore) in the next few years for mining and setting up of an integrated 1.7 MT steel plant, a 6 MT sponge iron and 10 MT iron ore pellet plant. This is the largest and the first of its kind investment by any Indian company in Bolivia and also the largest foreign investment in a single project in Bolivia.
 A joint venture agreement has been 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 company proposes to set up mining and steel making facilities, along with the establishment of the requisite infrastructure through JSB.
The Bolivia project is anticipated to generate gainful employment for thousands of people and catalyze economic growth of the Republic of Bolivia.
- Pellet Plant: 10 MTPA
- Sponge Iron Plant: 6 MTPA
- Steel Plant: 1.7 MTPA
- Power Plant: 450 MW
The mining operation has started in Bolivia. Mr. Evo Morales, President of Bolivia also visited the site
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Jindal Steel & Power Ltd. through its subsidiary in Mauritius has acquired a substantial stake in a local oil & gas company, GTL International S.A. The company has recently struck natural gas in its maiden efforts of drilling wells in the eastern part of Bolivia. Initial estimates of natural gas are approximately 25 bcf. GTL International is expected to commercialize the gas in the second half of the financial year 2009-10. |
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