26 June 2013

Liberia: Jindal Dispels Disinformation

Officials of Jindal Steel and power drilled a select team of the media through the heart of the company's business. It's certainly a multinational conglomerate with more than US$30 billion.

The company is also multinational, multi-product conglomerate with a turnover of more than US$18 billion and business interests spanning in mining, energy, and industrial gas, among others.

The Jindal Group comprises Jindal Saw, JSW Steel, Jindal Stainless and Jindal Steel & power are some of India's largest steel makers with an annual cumulative capacity of over 19 million tons and the highest market capital of US$12 billion.

This information was provided recently by Millind K. Oza, President Global Venture North and West Africa of Jindal Steel and Power Limited, during a brief visit to Liberia.

The Jindal official said he was in the country to dispel disinformation about the company in the Liberian media. Citing respect for the Liberian media, Oza said he thinks that the negative report in the Liberian press is based on what they might have received about the company.

He believes that the negative report in the Liberian media about the company is part of a disinformation campaign intended to undermine its ability to takeover Wologizi.

There are reports in the media that the son of President Ellen Johnson-Sirleaf, Robert Sirleaf, who is CEO of the Liberia Oil Company of Liberia (NOCAL) and the Minister of Lands, Mines and Energy have concluded discussions with Jindal officials over Wologizi.

There are also reports that Jindal lacks the financial capacity to manage Liberia's largest reserve of iron ore following reports that it had sought loans to take over the mines.

However, giving clarification, Oza said it's not only just about Wologizi, but it is about showcasing the company's ability to provide clean and affordable energy for all Liberians.

He explained that Jindal's profile and financial capacity puts the company in a better position to takeover Wologizi and enable it provide electricity for Liberians.

Oza said Jindal will ensure that the social corporate responsibility is fulfilled. Not only that, the company will provide employment opportunities for Liberian citizens, built schools and hospitals, train Liberians abroad and would respects the environment, among others.

According to the Jindal official, the company is currently run by Naveen Jindal, a member of the Indian parliament and chairman of the company. The company plans among other things to undertake a 150MW imported coal based power plant in Liberia, which would be the first phase, with an estimated investment of ).40 billion. The plant would be built in Bomi, Cape Mount and Garpolu counties. It would provide Monrovia and most parts of the country with energy.

Jindal is a major steel & power player in the world with significant global footprints across parts of Asia, Africa, Australia and Europe. The company has earned the distinction of setting up 1000 megawatts in India's first mega power project.

In Africa, Jindal has operations in Mozambique, Madagascar, Zambia, Mauritania, Senegal and Tanzania. The company also has operation in Namibia, Botswana, Madagascar, Tanzania, and has its regional headquarters in South Africa.

In Mozambique, JSPL is one of the only three companies having mining rights in the coal rich Moatize region. It started operating an 18 million tonnes per annum Coal mine from 2012.

Jindal Africa is working vigorously to entrench and expand its foothold in Africa to the benefit of its holding group and its local stakeholders. To this end, the company is currently involved in numerous exploration and mining operations across five continents while also looking out for and planning projects in the steel, power and related industries.

This industrial conglomerate is a leading player globally in the steel, power, mining, coal to liquid, oil & gas, and infrastructure sectors. Jindal says it recognizes that Africa is endowed with great mineral wealth and hardworking committed people.

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