News Brief | September 2012
FJS agrees to supply coal to Abhijeet Group
US-based FJS Energy agreed to supply coal to India's Abhijeet Group through its affiliates - FJSE Marshall Inc and FJSE River Coal - for a period of 25 years. FJS Energy was founded in 2011 by energy sector professionals from India and North America as a global resource and energy enterprise. The company aims to secure five per cent market share in the Indian coal import business. Both the companies signed a $7-billion agreement to this effect recently. The coal would be used for the Nagpur-based company's steel and power units. Abhijeet, led by Manoj Jayaswal, has significant presence in the core sector areas of power, roads, mining, engineering procurement and construction, ferro alloys, steel and cement. It has a power generation capacity of 2,671 mw - the 271-mw Mihan project in Nagpur, the 1,080-mw Chandwa project in Jharkhand and the 1,320-mw Banka project in Bihar. It is also setting up 10-million-tonne per annum (mn tpa) steel-making capacity over three states - Jharkhand, West Bengal and Maharashtra. The Group's Executive Director, Anand Kumar, said, FJS Energy is a reliable and high-quality coal producer in the US.