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Sajjan Jindal, the chairman of the Mumbai-based Steel to Infrastructure JSW Group, expressed interest in the company taking part in an auction of critical minerals. Jindal mentioned that the action will facilitate the group's backward integration of its plans for new energy vehicles.
"We will certainly participate when the mining auction comes up," he said while replying to a question. The comments come a month after the JSW Group announced signing an agreement with the Odisha government to set up an integrated electric vehicle (EV) manufacturing facility in the state, entailing an investment of Rs 40,000 crore.
Once completed, the project will mark JSW Group's foray into the automobile space. Union Mines Minister Pralhad Joshi has launched the second tranche of the auction of critical and strategic mineral blocks. The government also plans to launch the first tranche of offshore minerals auctions by June-July this year.
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