STOCKWATCH

Jindal Steel Receives Letter of Intent as Successful Bidder for Roida-I Iron Ore and Manganese Block in Odisha

Jindal Steel & Power Ltd has received a Letter of Intent (LoI) from the Government of Odisha for a 50-year Mining Lease for the Roida-I Iron Ore and Manganese Block. The block, located in Keonjhar District, spans 104.84 hectares and has an Environmental Clearance capacity of 3 Million Tonnes Per Annum (MTPA) and a mineral deposit of 126.05 Million Tonnes. This acquisition enhances Jindal Steel's raw material security and supports its commitment to integrated and sustainable steel production in India's mineral-rich eastern corridor. The LoI follows Jindal Steel's successful participation in an e-auction where they emerged as the Preferred Bidder.

• Jindal Steel receives LoI for Roida-I Iron Ore and Manganese Block in Odisha.
• The block spans 104.84 hectares and has a mineral deposit of 126.05 Million Tonnes.
• The acquisition enhances Jindal Steel's raw material security and supports sustainable steel production.
• The LoI follows Jindal Steel's successful participation in an e-auction.
• The block has an Environmental Clearance capacity of 3 Million Tonnes Per Annum (MTPA).