JSW Energy to import five million tonnes coal in FY11

JSW Energy plans to import five million tonnes of coal in the 2010-11 financial year beginning in April as the power firm looks to expand generating capacity, its chairman said on Friday.

The company, which is about to open its initial public offering, will import two million tonnes of coal each from South Africa and Indonesia and one million tonnes from Australia, Sajjan Jindal told a news conference.

JSW Energy has priced its IPO, which is being launched on Monday, at Rs100-115 per share to raise up to $583 million, around half what it had planned to raise before dropping its offer plan last year.