OP Jindal group eyes mines abroad

The O P Jindal group is also looking at acquring stake in coal mines overseas. Sajjan Jindal, chairman & managing director, Jindal Iron & Steel Company, said, "We are currently in negotiations to acquire stakes in coal mines in Australia and Canada.

We are looking at a capacity of around 5 million tonne and have outlined an investment of around $100 million." The group would be eyeing a stake of around 20-30 per cent in the coal mines, he added. The group has identified six companies in Australia and two companies in Canada, with which it is currently in discussions.

The coal will be utilised by companies under the Sajjan Jindal-controlled Jindal South West group, Ratan Jindal-controlled Jindal Stainless Steel Company and the Naveen Jindal-controlled Jindal Steel and Power Company.