Companies

FJS, Abhijeet Group sign $7 b coal deal

U.S.-based FJS Energy LLC, on Thursday, announced a multi-year coal sale and purchase agreement worth $7 billion with India’s Abhijeet Group giving India access to American coal for the next 25 years.

The coal, under the deal, will be primarily for steel production and power generation in India. The coal would be sourced from FJS Energy’s affiliates, FJSE Marshall Inc. and FJSE River Coal.

Kentucky’s Governor Steve Beshear said his administration had worked hard to strengthen ties with India. “We are looking forward to a long and successful partnership with many more economic opportunities,” he said in a statement here.

FJS Energy board Chairman M. P. Narayanan said the deal with the Indian group, besides strengthening trade and business relationship between the two countries, would benefit both the companies optimally.

Abhijeet Group operates in sectors such as power, roads, mining, EPC, steel and cement.

It has significant investments in joint ventures with companies such as Marshall Resources Inc.


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Printable version | Jul 26, 2021 6:00:59 PM | https://www.thehindu.com/business/companies/fjs-abhijeet-group-sign-7-b-coal-deal/article3780894.ece

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