JSW Steel, India’s No. 3 producer of the alloy, said on Monday that work on its West Bengal project will start in six months.
The company will invest 100-120 billion rupees in the first phase to set up a 3-million-tonne steel plant, Managing Director Sajjan Jindal told reporters.
It is expected to be completed within 30 months from the start of the project, Jindal added.
Eventually the steel-maker plans to set up a 10-million-tonne steel plant with an investment of 350 billion rupees in three phases, he said.
“Along with the steel plant, we will also start the first phase of the 1600 MW power plant project, which would take around 3 years to complete,” he said.
In the first phase, it will have a capacity 800 MW, with an investment of around 80-100 billion rupees, Jindal said.
Jindal, who was in Kolkata to meet the West Bengal chief minister, said the company was in “active” discussions with the Japanese firm JFE Corp, regarding investment in the Bengal steel plant.
SOURCE:http://sify.com
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