JSW Steel, which is run by Sajjan Jindal, intends to invest 2,000 crore to create a brand-new coking coal mine in Jharkhand.
The company is awaiting an official announcement from the government after being named the winning bidder for the recently auctioned coking coal mine.
The new mine should start operating in two to three years, according to JSW Steel. The mine, like the company’s Moitra coking coal mine situated in the same State, has reserves of roughly one billion tonnes.
In order to reduce costs overall, the company would mix 20–30% of domestic coal with high quality coal, according to Seshagiri Rao, Joint Managing Director, JSW Steel.
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