The president of the Cameroon Mr Paul Biya has granted audience to an Indian business magnet Mr Naveen Jindal CMD of of Jindal Steel and Power Limited.

Mr Jidnal was heading a delegation of three in Cameroon to express readiness to invest in iron and steel production in the country.

At the end of the 45 minute discussion, Mr. Jindal said the encounter with Cameroon is very encouraging. He said President Paul Biya gave the assurance that Jindal Steel and Power investments in Cameroon will be secure.

The company intends to implant a thermal electricity production station in Limbe with a capacity of about 500 MW, and exploit iron ore deposits in Nkout in partnership with CAMINEX.

It is the fifth time representatives of the company are visiting Cameroon since the beginning of 2012. The frequent visit is an indication of the extent to which negotiations have gone.