New Delhi [India], October 3 : Jindal Steel and Power on Tuesday said it commenced production at the Gare Palma IV/6 coal mine, which is strategically positioned in Chhattisgarh.
In a release on Tuesday, the company said this was a significant development as it marks a vital milestone in its continued journey in advancing its raw material security.
The mine in Chhattisgarh is expected to support the proposed expansion of its Raigarh integrated steel plant to a capacity of 9.6 million tons per annum from the existing 3.6 MTPA.
"The proposed expansion aligns perfectly with the vision of AtmaNirbhar Bharat, as it will substantially bolster India's steel production capacity using our own swadeshi coal,” said Bimlendra Jha, Managing Director, Jindal Steel and Power, as per the release.
“We aim to finance this expansion predominantly through internal accruals, ensuring a healthy balance sheet,” Jha said.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor