Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Jindal Steel wins 25-year coal licence in Mozambique
BackBack

Jindal Steel wins 25-year coal licence in Mozambique

Jindal Steel wins 25-year coal licence in Mozambique

Premium

Maputo: Mozambique has awarded India’s Jindal Steel & Power a 25-year licence to explore and mine for coal in the northwest Tete province, in return for a $180 million investment, the country’s resources ministry said on Friday.

Jindal will invest $180 million in the Tete coal mine, as part of a project that will cover 2,1540 hectares and directly employ 1,500 people, the mineral resources ministry said in a statement.

The deal will be formally signed on Monday and the Mozambique government will own a 10 stake.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 04 Feb 2011, 07:50 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie