February 4, 2011 / 1:45 PM / 8 years ago

India's Jindal wins 25-yr coal licence in Mozambique

MAPUTO, Feb 4 (Reuters) - Mozambique has awarded India’s Jindal Steel & Power (JNSP.BO) a 25-year licence to explore and mine for coal in the northwest Tete province, in return for a $180 million investment, the country’s resources ministry said on Friday.

Jindal will invest $180 million in the Tete coal mine, as part of a project that will cover 2,1540 hectares and directly employ 1,500 people, the Mineral Resources Ministry said in a statement.

The deal will be formally signed on Monday and the government will own a 10 percent stake. (Reporting by Charles Mangwiro; editing by David Dolan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below