JSW Bengal to commence Salboni project with power

KOLKATA: With the Rs 35,000-crore integrated steel plant by JSW Bengal failing to take off, the state government has advised the company to venture into power.

"The Chief Minister had suggested that we go in for a power plant as due to the issue of iron-ore no banker was keen for financial closure," JSW Bengal CEO Biswadeep Gupta said.

Gupta said the state government will help in bringing changes in the agreement.

JSW Bengal was planning to setup 660-MW power plant at a cost of Rs 5,000-6,000 crore. The company was unable to get iron-ore linkages for the steel project.

Gupta said in the next to three to four months, the company was expected to get clearances and ground breaking for the power project was expected in April, 2014.

The entire generation was likely to be purchased by the state government.

The company had planned 10 million tonnes per annum (mtpa) integrated steel project at Salboni, West Midnapore.