LOI with State - Jindal Steel & Power Ltd

Code BSE: 532286 NSE:

The Government of Odisha has issued a Letter of Intent (LoI) to the Company for the grant of a 50-year Mining Lease for the Roida-I Iron Ore and Manganese Block, located in Keonjhar District. Spread across 104.84 hectares, this vital mineral resource significantly enhances Jindal Steel’s raw material security and underscores its commitment to integrated and sustainable steel production in India’s mineral-rich eastern corridor. Pankaj Malhan, Executive Director, Angul, stated, “This mining lease is a critical enabler for our long-term vision of self-reliant steel production. With the Roida-I block, we are significantly bolstering our iron ore and manganese supply base, which will ensure operational stability, cost efficiency, and support our growth plans. It is also a testament to Jindal Steel’s commitment to Odisha’s economic and industrial development through responsible and sustainable mining.”