Business Update9 Nov 2024, 01:07 am
JSW Steel Ltd. Terminates Banai-Bhalumuda Coal Block Agreement Due to Unsuitability
AI Summary
JSW Steel Ltd. has terminated the Coal Block Development and Production Agreement for the Banai & Bhalumuda Coal Block in Mand-Raigarh. After a thorough feasibility study, the company found the mine unsuitable for techno-commercial reasons and decided not to proceed with the investment. The Nomination Authority, Ministry of Coal, has terminated the agreement as of 07.11.2024.
Key Highlights
- JSW Steel Ltd. terminates Banai-Bhalumuda Coal Block Development and Production Agreement
- The decision comes after a detailed feasibility study found the mine unsuitable for techno-commercial reasons
- Company decided not to invest in developing the Coal Block
- The Coal Block Development and Production Agreement has been terminated by the Nomination Authority, Ministry of Coal
- Termination date set as 07.11.2024