Jindal to invest US$10 billion in Orissa project

Jindal Steel and Power will invest US$10 billion to set up a coal-to-liquid (CTL) plant and a 2,000 megawatt (MW) thermal power plant in the state, the company’s Managing Director Naveen Jindal said. He said an agreement with the Orissa government will be signed in the next two to three months for setting up the CTL project. “The state has received an investment proposal of Rs101,100 crore (US$22 billion) from Jindal Steel and Power. About US$10 billion has been proposed for the new coal-to-liquid project,” a senior official of the state steel and mines department said. The project includes the coal-to-liquid plant, the thermal plant and a coal washery. (March 23, 2010)