JSW Steel has received a Letter of Intent (LoI) from Bharat Coking Coal Limited (BCCL) to develop the Dugda Coal Washery. BCCL, a subsidiary of Coal India, will provide 2 million tonnes per annum (MTPA) of raw coking coal to JSW Steel. The company will also have rights over the washed coal product.
BCCL will supply the raw coking coal at a 2.35% premium over its notified price. JSW Energy (Utkal), a consortium partner, will buy the processed coal at market-linked prices.
JSW Steel aims to strengthen its domestic coking coal supply by acquiring coal mines through auctions and setting up or purchasing washeries. The company is also working on launching three coking coal mines in India, which will help reduce its dependency on expensive imported coal.
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JSW Steel, the main company of the JSW Group, is India’s leading integrated steel producer. However, in Q3 FY25, the company reported a 70.65% drop in its net profit, which fell to ₹719 crore from ₹2,450 crore in Q3 FY24. Its revenue also declined 1.32% year-on-year to ₹40,793 crore.
On Friday, March 28, 2025, JSW Steel’s stock price rose by 0.27%, closing at ₹1,062.95. The stock market is closed today for Eid-ul-Fitr.
