JSPL had secured the development rights of El Mutun mines, one of the world’s single biggest iron-ore deposits with reserves of more than 40 billion tonne, in 2007
Jindal Steel Bolivia, a subsidiary of Jindal Steel & Power (JSPL), will build a 2.52 MMTPA natural-gas-based Midrex Direct Reduction Plant in the first unit at EL-Mutun in Bolivia. The new Midrex Plant will be the largest single module till date of any commercial direct reduction technology in the world. The contract for this new Midrex Plant was signed on 30 March 2011.
The project will be known as the Naveen Ultra Mega Mod DRI and will feature the latest Midrex Shaft Furnace innovations and will have the flexibility to produce both quality hot DRI and hot briquetted iron for use in a new proposed greenfield meltshop. Iron ore and iron pellets will be supplied from Jindal Steel’s El Mutun Iron Ore Reserves in Bolivia, where Jindal Bolivia is also installing a pellet plant and a steel making facility.
The Naveen Ultra Mega Mod plant can produce up to 2.70 million metric ton per year of DRI.
JSPL had secured the development rights of El Mutun mines, one of the world’s single biggest iron-ore deposits with reserves of more than 40 billion tonne, in 2007. The 40-year contract that gave the company the right to mine about half of 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. The company will also coming up with a 450 MW power plant. The entire team from JSPL is present at the site and work is at the advanced stage at the site.
Shares of JSPL were trading at around Rs631.15 on the Bombay Stock Exchange in the late afternoon, 1.89% up from the previous close.
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