"We are in discussion and the bidding process is on. We hope to sort of finalising the deal within August," Jindal said.
A privately-held firm, United Coal is a metallurgical coal company that owns mines in Virginia and Kentucky having a total reserves of 165 million metric tonnes.
The market has widely speculated that the deal is expected to cost anywhere between $1.5-2 billion.
Confident of clinching the deal from six other bidders, Jindal said," We will be quite aggressive to acquire United Coal".
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JSW Steel has also set its sights on acquiring a coal mine in Australia.
"Apart from United Coal, we are looking at Australia for acquiring coal mines," Jindal said but declined to give further details.
JSW Steel is aiming to increase its capaicty to 32 million tonnes by 2020 from 4.8 million tonnes now.
The company is working on increasing the capacity of its Vijaynagar plant in Karnataka to 6.8 million tonnes by September this year and to ten million tonnes per annum by March 2010. It is also doubling capcity of the Salem plant to two million tonnes.
The company is also setting up a six million tonne steel plant at Salboni in West Bengal and has plans to put up a steel making facility in Jharkhand as well.