OREANDA-NEWS. July 6, 2011. Jindal Steel Bolivia (JSB), a subsidiary of Jindal Steel and Power Limited (JSPL), reached a historical landmark as the company commenced dispatch of iron ore from its El-Mutun mines in Puerto Aguirre, a river port in Bolivia. Iron ore from here will be transported to different destinations through the Parana Paraguay Hidrovia riverway. This is for the first time that iron ore from JSB will be exported. JSB will be exporting iron ore, mainly to China, Middle East, European and South American countries.

The logistics of the dispatch of the iron ore has been a major challenge for this project and the start of iron ore transportation is a landmark step towards overcoming this challenge.  The initial shipment was flagged off recently by Mr. Vikrant Gujral, President JSB and Group Vice Chairman & Head Global Ventures of JSPL. This was done in the presence of dignitaries of the government of Bolivia, local & administrative authorities. The company has plans to export up to 10 MTPA of products i.e. Concentrate, Pellets, DRI and Steel upon completion of this project.

Jindal Steel Bolivia had secured the development rights of 20 billion tons of iron ore of El Mutun mines, one of the world’s single biggest iron-ore deposits, in 2007. The 40-year contract that gave the company the right to mine the reserves of iron ore also includes setting up an integrated 1.7 MTPA Steel Plant, a 6 MTPA Sponge Iron and 10 MTPA Iron Ore Pellet plant in Bolivia with an investment of USD 2.1 billion. This will be the largest investment by an Indian company in South America and also the largest investment by a foreign company on a single project in Bolivia.

The company is starting construction work on the DRI, Pelletisation, and Steel project. These are expected to become operational in the next 3-4 years.

JSB has already placed an order for an ultra mega module DRI Plant of 2.52 MTPA capacity from Midrex, USA. It has acquired land for the Project and the Natural Gas supply and other infrastructure facilities have been committed by Govt of Bolivia as per its Contract with JSB.

About Jindal Steel & Power Limited (JSPL)

Jindal Steel and Power Limited (JSPL) today is one of India’s major steel producers with a significant presence in sectors like Mining, Power Generation and Infrastructure. With an annual turnover of over USD 2.9 billion, JSPL is a part of the over USD  15 billion diversified O. P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and South America.

The company produces economical and efficient steel and power through backward integration from its captive coal and iron-ore mines. From the widest flat products to a whole range of long products, JSPL sports a product portfolio that caters to each and every need in the steel market. It also has the distinction of producing the world’s longest 121 m rails and large size parallel flange beams. It also produces the widest plate in coil form up to 3.5 m wide.

The organisation is equally concerned about the environment and is committed towards restoring nature’s balance by maintaining a clean and green environment. JSPL’s Corporate Social Responsibility policy aims at bringing about a radical transformation in the lives of people of the area where the company’s projects are located.