Former La Caisse South Asia MD joins Indian conglomerate Jindal Steel
- Agarwal left La Casse in 2023 after six years
- Jindal Steel operates in mining, power, and steel manufacturing
- Company has 30-year concession for Paradip Port dry bulk terminal
Saurabh Agarwal, a former infrastructure managing director for South Asia at La Caisse (formerly CDPQ), has joined Indian conglomerate Jindal Steel, two sources familiar told Infralogic.
Agarwal, who was also India Managing Director at La Caisse, left the Canadian pension manager in 2023 after working there for more than six years.
The sources did not say what Agarwal’s mandate is at Jindal Steel.
Earlier known as Jindal Steel & Power, the BSE and NSE-listed company is owned by Chairman Naveen Jindal, who is also a member of parliament and part of the Bharatiya Janata Party that leads the National Democratic Alliance.
Jindal Steel’s business lines include coal and iron mining across India and Africa, power generation, and steel manufacturing.
In 2022, the company won a 30-year concession for a dry bulk terminal at Paradip Port on India’s east coast. The asset is mainly a captive one, as the company moves more than eight million tonnes annually via sea, comprising of coal imports and steel exports. It also imports other raw materials.
Jindal Steel did not reply to a request for comment.
