JSPL to set up power plant in Liberia

Written by Prashant Mukherjee | Updated: Sep 12 2013, 07:27am hrs
Jindal Steel and Power (JSPL) plans to set up two units of coal-based power plant of 150MW each in Liberia, reports Prashant Mukherjee in Raigarh. It intends to invest around R3,500 crore in 3 years. JSPL on Wednesday signed an MoU with the Republic of Liberia for setting up the power plant. 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, JSPL chairman Naveen Jindal said.

The date of commissioning will be decided in the next few months, JSPL MD and CEO Ravi Uppal said. The project would be set up under the public-private-partnership (PPP) model and the government of Liberia would be the customer, Uppal added.

The President of the Republic of Liberia, Ellen Johnson Sirleaf, who is on a five-day visit to India, visited Jindal's 3 million tonnes per annum (mtpa) steel plant in Raigarh and 1,000 MW power plant in Tamnar in Chattisgarh. The company plans to increase the electricity generation capacity at its Tamnar power plant to 3,400 MW by May next year. The president said Liberia would explore all possibilities to work with the group in other areas. The coal for the planned Liberian power plant is likely be sourced from Mozambique where JSPL owns a mine and has already started production.