Jindal Steel To Invest US$500 Million In Thermal Power Plant In Cameroon

Published: Dec 06 2012
Deal Summary

Jindal Steel & Power Limited, one of the major power generation and steel manufacturing company in India, announced an investment of $500m in the construction and development of thermal power plant in the southwestern town of Limbe, Cameroon. The total installed capacity of the plant will be 500 MW. The investment per MW will be $1m.

The plant is also include the development of a railway line and an iron ore processing plant in Cameroon. Jindal is talking with Caminex SARL, a unit of Toronto and Afferro Mining, to process ore from its Nkout iron ore project at the Kribi plant.

Naveen Jindal, chairman of Jindal, said, "We feel that Cameroon offers lots of investment opportunities especially in the areas of mineral development, infrastructure development and power generation. We feel very encouraged, we feel very confident of investing in Cameroon.”

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