Epic Update : Jindal Steel & Power

[Epicresearch123]

Jindal Steel & Power is close to acquire a controlling stake in Toronto-listed Canadian coal mine owner CIC Energy Corp, at a value estimated to be worth of Rs 1000 crore, as mentioned in some media reports. The acquisition will help the company access about 2.4 billion tonnes of high grade thermal coal from CIC’s Mmamabula Coalfields and other properties, which in turn would be used to feed in the requirement of its India-based power and steel plants.