JSW Bengal gets coal block in Bengal
JSW Bengal Steel, promoted by the Sajjan Jindal group, has been allotted coking coal block in West Bengal for its 10 mt steel plant at Salboni.
By PTI |
KOLKATA: JSW Bengal Steel, promoted by the Sajjan Jindal group, has been allotted coking coal block in West Bengal for its 10 mt steel plant at Salboni.
"We had been allotted a coking block at Kulti and a non-coking block in another location," JSW Bengal Managing Director Biswadip Gupta told reporters.
"It is an underground coal block and Mineral Exploration Corporation Ltd has commenced assessment work and four-five rigs are working at the site," he added.
JSW Bengal would have a tie-up with either an Australian or a South African mining company.
"Australian and South African companies have underground mining expertise and so we are scouting for a mining partner in the two countries and will forge a tie-up shortly," he said.
However, coal blocks provided to JSW Bengal would not meet the company's total demand for coal.
"Kulti block will meet 30 per cent of our coking coal requirement and rest would be met through imports," Gupta said.
He, however, declined to reveal the terms for coal block allotment and said the company was holding talks with several states for iron-ore linkage.
In the first phase, the company would install three million ton plant on 5,000 acres at Salboni in West Midnapur district. Later on, the capacity would be ramped up to 10 million tons at a cost Rs 35,000 crore.
"We had been allotted a coking block at Kulti and a non-coking block in another location," JSW Bengal Managing Director Biswadip Gupta told reporters.
"It is an underground coal block and Mineral Exploration Corporation Ltd has commenced assessment work and four-five rigs are working at the site," he added.
JSW Bengal would have a tie-up with either an Australian or a South African mining company.
"Australian and South African companies have underground mining expertise and so we are scouting for a mining partner in the two countries and will forge a tie-up shortly," he said.
However, coal blocks provided to JSW Bengal would not meet the company's total demand for coal.
"Kulti block will meet 30 per cent of our coking coal requirement and rest would be met through imports," Gupta said.
ADVERTISEMENT
He, however, declined to reveal the terms for coal block allotment and said the company was holding talks with several states for iron-ore linkage.
In the first phase, the company would install three million ton plant on 5,000 acres at Salboni in West Midnapur district. Later on, the capacity would be ramped up to 10 million tons at a cost Rs 35,000 crore.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
