Jindal Steel & Power Ltd. signs MoU with the Liberian government to set up two units of power plants

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Jindal Steel & Power Ltd. signs MoU with the Liberian government to set up two units of power plants

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INDIA

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Jindal Steel & Power Ltd. has signed a memorandum of understanding with the Liberian government to set up two units of 175 MW each power project in Liberia. The MoU was signed in presence of Ms. Ellen Johnson Sirleaf, Nobel Peace Prize laureate and President of Republic of Liberia who is on a five-day state visit. The president visited Jindal Steel & Power Ltd.’s state-of-art 3 MTPA Steel plant in Raigarh and 1000 MW power plant in Tamnar, Chattisgarh. On her visit to the Raigarh facility, Ms. Ellen Johnson Sirleaf President of Republic of Liberia said that she was very impressed seeing what JSPL has achieved. The manner in which the company have built plants in difficult circumstances and worked with villagers givesthem confidence, and they are open to all possibilities of a strong partnership. Liberian government would be working closely with JSPL to achieve the objective of industrial growth in the country. The President on her visit to India is accompanied by a high-level delegation including the Liberian Ministers of Foreign Affairs, Finance, Agriculture, Commerce and Industry, Information, Culture and Tourism, Lands, Mines and Energy and Gender development, besides senior Government officials and representatives of apex trade bodies. Liberia is one of the stable West African countries, growing at a rate of 8-10%. The countries rich natural resources and various infrastructure and industrial development provide significant potential for enhancement of trade and investment ties between the two countries. Speaking on the Liberian President’s visit, Shri. Naveen Jindal, Chairman, JSPL said “At JSPL, we are committed to add value to our stakeholders and as part of our business expansion plans in the mining and power sector, we are exploring available opportunities in Africa. Liberia is a stable country with good governance practices, and the fact that it is led by a Nobel laureate extends further credibility to the nation. I have a dream to light up Africa.”Speaking about the project, Mr. Ravi Uppal, MD&CEO, JSPL said, “The power project would be set up under Public Private Partnership (PPP) model and will have two units of 350 MW total of power. JSPL is committed to fulfil the country’s power requirement and the work on the project would start soon.” http://www.jindalsteelpower.com/MediaFiles/PressRelease/PressRelease_2013_9_17_5_45_718.pdf Project Name Jindal Steel & Power Ltd. signs MoU with the Liberian government to set up two units of power plants Location INDIA Commence 2013 Completion -NA- Estimated Investment -NA- Capacity -NA- Key Players Jindal Steel & Power Ltd.