Have a dream to light up lives in Africa: Naveen Jindal

Jindal Steel and Power (JSPL) promoter Naveen Jindal is looking to set up power plants in Liberia, Senegal and Botswana not just to expand the group's presence in Africa, but also to secure a "sense of fulfilment".

"I have a dream that we are able to light up of the lives of the people of Africa. If our company can do that, it will be a great thing. We have very large plans for Africa," Jindal said.

His group has already taken a few big steps towards the goal, be it in the form of coal mine acquisition or signing the initial pact for setting up power plants such as the one that his firm signed with Liberia's visiting President Ellen Johnson Sirleaf last evening.

The plan is to set up one unit of 175 MW initially with $250 investment and then scale it up to a ditto unit, but that would depend upon the need. JSPL, however, is not looking at investing in steel sector for the moment.

Jindal also said the proposed investments in Africa, where industries from across the globe are increasing presence keeping the future potential in mind, would not be big-ticket.

"Compared to India, investments outside would be very small," he added.

Besides, Jindal said: "Our plan is that to set up such power projects in many parts of Africa, which are short of power. We are talking to many countries. We are talking to Senegal, Liberia and Botswana, where we have our coal mines."

Jindal would make these investment, not just because it intends to expand the Group's presence, but to invest in such places where investment is required.

"It gives you a greater sense of fulfilment," he said.