JSW Group interested in acquiring critical mineral blocks: Chairman Jindal
JSW Group Chairman Sajjan Jindal addresses the gathering during the announcement of SAIC Motor and JSW group’s joint venture, in Mumbai (Photo: PTI)
Steel to Infrastructure JSW Group is interested in participating in auction of critical minerals, its Chairman Sajjan Jindal said on Wednesday.
Jindal, who made the remarks at an event in Mumbai, said the move will help in backward integration of the group’s plans for new energy vehicles.
“We will certainly participate when the mining auction comes up,” he said while replying to a question.
The comments come a month after the JSW Group announced signing an agreement with the Odisha government to set up an integrated electric vehicle (EV) manufacturing facility in the state, entailing an investment of Rs 40,000 crore.
Once completed, the project will mark JSW Group’s foray into the automobile space.
Union Mines Minister Pralhad Joshi has launched the second tranche of the auction of critical and strategic mineral blocks.
The government also plans to launch the first tranche of offshore minerals auctions by June-July this year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Mar 20 2024 | 4:53 PM IST