Two Jindal Group companies JSW Steel and JSW Energy have signed up a 10-year agreement valued at over USD 2 billion with a Tokyo-based Kawasaki Kisen Kaisha in order to transport coking coal and steaming coal to them.

Coal would be shipped to the two companies by 10 vessels and the freight income from the 10 vessels is projected to be more than two hundred million dollars on a yearly basis, it added.

The overall transport volume for the two companies under the en bloc deal could reach around 12 million tons per annum by 2015, when all the vessels enter the service.

The Japanese company also known as K-Line would be transporting coal to India from Australian, Indonesian, South African and Chinese ports.

Shares of the company declined Rs 44.3, or 4.74%, to end at Rs 890.85. The total volume of shares traded was 84,518 at the BSE. (Monday)