Raw material security and cost optimisation remain a key strategic priority for JSW Steel Limited. Pursuant to this strategy, the Company intends to establish domestic coking coal security and linkages by acquiring mines under auction and set up / acquire washeries. The Company is in the process of commissioning three coking coal mines in India which will provide it coking coal at a lower cost as compared to imported coking coal. In line with the same, the Company had submitted its bid to Bharat Coking Coal Limited ("BCCL") (a subsidiary of Coal India Limited) for appointment as Washery Developer & Operator for Dugda Coal Washery at District - Bokaro in the State of Jharkhand ("Washery").
BCCL has now issued Letter of Intent on March 28, 2025 and declared the Company as "Successful Bidder" for appointment as Washery Developer & Operator for Dugda Coal Washery for a period of 25 years. The Washery has capacity of processing 2 MTPA raw coking coal. The Letter of Intent was received by the Company on March 29, 2025.
The Company will have firm linkage of 2 MTPA of raw coking Coal and right over Washery product. BCCL will supply raw coking coal at a premium of 2.35% over its notified price. Further, JSW Energy (Utkal) Limited is the consortium partner, which will consume byproducts from the Washery, which will be sold to them at market linked prices.
Shares of JSW Steel Limited was last trading in BSE at Rs. 1062.95 as compared to the previous close of Rs. 1060.10. The total number of shares traded during the day was 21198 in over 2053 trades.
The stock hit an intraday high of Rs. 1068.00 and intraday low of 1054.40. The net turnover during the day was Rs. 22496361.00. |
