JSW Steel to setup a steel plant in Bengal

Sajjan Jindal-promoted JSW Steel has said that they would be signing a memorandum of agreement (MoA) with the government in West Bengal next year.

This deal would be for a 10 million tonne integrated steel plant to be setup in the state.

Sajjan Jindal, vice chairman and managing director JSW Steel said that they are going to sign this MoA on January 11, 2007.

The company added that this upcoming plant would have a capacity of 10 million tonne split into two phases. The first phase would cost around Rs 10,000 crore. JSW would also be setting up captive power of 600 mw at this unit.

Jindal added that they expect to generate employment for around 10,000 people through this project. It would be setup in the next 36 months and they are likely to begin working on it before monsoon in 2007.

Considering the fiasco with Tata Motors and their land acquisition in the state, Jindal said: “We have come here on invitation of the government”. He added that the land acquisition was the responsibility of the state government.

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