JINDAL STEEL & POWER LTD. - Jindal Steel & Power Ltd reply to clarification sought by the exchange

The Exchange has sought clarification from Jindal Steel & Power Ltd with respect to the news media report appearing on Financial Chronicle on November 25, 2014 titled "JSPL scraps $10 billion CTL project in Odisha"<BR> <BR>Jindal Steel & Power Ltd has replied stating that "The Company planned to implement Coal to Liquid (CTL) project to produce crude using environment friendly Indirect Coal Liquification under the technology developed in Germany for which Ramchandi Promotional Coal Block in Orissa allotted by Government of India in 2009.<BR><BR>Since the Coal Block has been de-allocated as per the recent Supreme Court verdict, this project, as planned, will not proceed.