Naveen Jindal-led JSPL today said its African arm is in talks with Mozambique government for building a 150 MW power plant.
The company claims to be at the “forefront” of the Southeast African country’s “energy revolution”.
“Discussions have been held with the Government of Mozambique for setting up a 150 Mw thermal power plant,” Jindal Steel and Power Ltd (JSPL) said in a BSE filing.
The company, however, made it clear, “Please be informed that it is in a very preliminary stage…Nothing has been finalised in this regard so far.”
It did not give any investment figures for the project though reports suggest that company’s African arm plans to invest USD 400 million in the project.
Queries sent to JSPL in this regard did not elicit any response.
About Mozambique the company claims to be “at the forefront of the country’s energy revolution, where it is one of only three companies with mining rights in the coal-rich Moatize area.”
The opencast coal mine there, with a proven reserve of 700 MT, commenced operations on its 10 MTPA coal mine, with the production of 3 MT in the first phase, during 2012.
“The substantial reserves unearthed will help to produce in excess of 10 MTPA of high grade coal from 2015 onwards,” the company said in its website.
The company’s African operations span through South Africa, Mozambique, Botswana, Madagascar, Tanzania, Zambia and Namibia.
On domestic front, the company plans to invest Rs 20,000 crore to augment its power business to take the generation capacity to 8,600 MW in the next five years.
The company’s capacity is 5,300 MW including 3,400 MW of its arm Jindal Power.