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India's Jindal looking at coal, iron ore projects-chairman
June 20, 2012 / 6:37 PM / 5 years ago

India's Jindal looking at coal, iron ore projects-chairman

NEW YORK, June 20 (Reuters) - India’s Jindal Steel & Power (JSPL) has started looking at coal and iron ore projects in South America, Africa and Australia as part of its aim to increase its self sufficiency in steel raw materials, the company’s chairman and managing director told Reuters on Wednesday.

The company wants to raise its raw materials self-sufficiency level to 80-90 percent by 2015 from 70 percent currently, Naveen Jindal said in an interview on the sidelines of the AMM Steel Success Strategies conference.

His comments come just a week after the company gave the Bolivian government notice to terminate its $2.1 billion iron ore and steel investment in the country due to the lack of support from the Bolivian government.

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