Dec 06, 2012, 07.48 PM IST | Source: Reuters

Jindal Steel to invest $500m in Cameroon projects

Jindal Steel and Power will invest around USD 500 million in Cameroon to build a power plant, a railway line and an iron ore processing plant, Cameroon's state radio reported, citing the country's mines ministry.

Jindal Steel to invest $500m in Cameroon projects

Jindal Steel and Power will invest around USD 500 million in Cameroon to build a power plant, a railway line and an iron ore processing plant, Cameroon's state radio reported, citing the country's mines ministry.

The 500 MW thermal power station will be built in the southwestern town of Limbe, while the rail line will run between the coastal city of Kribi and Perth-based Sundance Resources Ltd.'s iron ore project in Mbalam in the east.

The processing plant will be located in Kribi, home to a deep-water port.

"Jindal Steel and Power will invest nearly USD 500 million... in the beginning. Afterward, other investment projects... could also follow," state broadcaster CRTV reported late on Wednesday, quoting a mines ministry statement.

Jindal is also in talks with Caminex SARL, a unit of Toronto and AIM-listed Afferro Mining

Jindal Steel stock price

On April 17, 2014, Jindal Steel & Power closed at Rs 280.00, up Rs 10.70, or 3.97 percent. The 52-week high of the share was Rs 347.75 and the 52-week low was Rs 181.55.


The company's trailing 12-month (TTM) EPS was at Rs 14.63 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 19.14. The latest book value of the company is Rs 134.95 per share. At current value, the price-to-book value of the company is 2.07.

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