Business Standard reported that 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.
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' iron ore project in Mbalam in the east.
The processing plant will be located in Kribi, home to a deep water port.
A mines ministry statement said that "Jindal Steel and Power will invest nearly USD 500 million in the beginning. Afterward, other investment projects could also follow."
The radio reported said that 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.
Mr Naveen Jindal chairman of Jindal's met with Mr Paul Biya President of Cameroon's on December 4th.
Mr Jindal said that "We feel that Cameroon offers lots of investment opportunities especially in the areas of mineral development, infrastructure development and power generation. We feel very encouraged, we feel very confident of investing in Cameroon."
