The mine, with an estimated reserve of 3,257 million tonnes, is located just 11 km from JSPL’s Angul steel plant, making it a key asset for the company.
JSPL won the block with a revenue-sharing bid of 10%, reducing its dependence on external coal supplies and ensuring a stable flow of raw materials for its steel production. The acquisition strengthens the company’s backward integration strategy, helping mitigate risks related to supply chain disruptions and price volatility.
By securing a long-term fuel supply, JSPL is enhancing its operational efficiency while reinforcing its commitment to the "Aatmanirbhar Bharat" initiative, aligning with the government’s vision for self-reliance in critical industries.
Jindal Steel and Power is the flagship company of Jindal Group, an industrial powerhouse which has a strong presence in the steel, power, mining, and infrastructure sectors globally.
The company's consolidated net profit declined 50.7% to Rs 950.48 crore in Q3 FY25 as against Rs 1,928.32 crore posted in Q3 FY24. Revenue from operations rose by 0.4% year on year to Rs 11,750.67 crore in the quarter ended 31 December 2024.