YAOUNDE, Dec 6 (Reuters) - Indian group Jindal Steel and
Power will invest around $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
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
"Jindal Steel and Power will invest nearly $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, to process ore from its
Nkout iron ore project at the Kribi plant, the radio reported.
Jindal's chairman Naveen Jindal met with Cameroon's
President Paul Biya on Tuesday.
"We feel that Cameroon offers lots of investment
opportunities especially in the areas of mineral development,
infrastructure development and power generation," he told
journalists following the meeting.
"We feel very encouraged, we feel very confident of
investing in Cameroon," he said.
New Delhi-based Jindal Steel and Power is part of the $18
billion diversified O.P. Jindal Group.
In India, it currently operates power plants with a total
capacity of 2,298 MW as well as a steel plant with annual
production capacity of 3 million tonnes.
In Africa, it holds coal mining licences in South Africa and
(Reporting by Tansa Musa; writing by Joe Bavier; editing by
David Lewis and James Jukwey)