JSW plans to invest Rs 7,500 crore in TN
JSW Group, part of the Rs 32,000 crore OP Jindal conglomerate, has unveiled a Rs 7,500-cr plan for Tamil Nadu.
By TNN |
CHENNAI: JSW Group, part of the Rs 32,000 crore OP Jindal conglomerate, has unveiled a Rs 7,500-crore investment plan for Tamil Nadu.
The plan includes expanding the capacity of Siscol steel plant as well as setting up a new power plant in the state. JSW, which took over the ailing Siscol plant near Mettur in 2004, is in the process of enhancing the capacity to 1 million tonne per annum (TPA) from the initial 0.3 million TPA at a cost of Rs 1,350 crore.
JSW Steel, vice chairman and managing director, Sajjan Jindal told a press a conference here on Monday that the Siscol plans to use the iron ore available in Salem and Thiruvannamalai districts. It will establish a benefication plant at a cost of Rs 400 crore, which is expected to generate direct and indirect employment for about 3,000 persons. Mr Jindal met Tamil Nadu chief minister M Karunanidhi at the state secretariat on Monday evening. State ministers and senior officials from the government were also present.
Mr Jindal said the group also plans to increase Siscol capacity to 2 million TPA at an investment of about Rs 3,000 crore on availability of iron ore in the state.
In addition, Siscol also intends setting up a 1 million TPA slag grinding unit near Mettur at an estimated investment of Rs 125 crore. This will generate additional direct and indirect employment to 1,000 people.
The group is also looking at a possible opportunity for setting up a 1,000MW power plant in the state at an investment of Rs 4,000 crore. “Our plan, envisaging investment of over Rs 7,500 crore will result to creating direct and indirect employment for about 10,000 persons,” Mr Jindal said.
He hinted that Ennore, near Chennai, could be the possible location for the proposed power plant.
JSW Energy, which is in the process of implementing power projects across the country, is likely to come out with an IPO to mop up around Rs 4,000 crore from the public.
The plan includes expanding the capacity of Siscol steel plant as well as setting up a new power plant in the state. JSW, which took over the ailing Siscol plant near Mettur in 2004, is in the process of enhancing the capacity to 1 million tonne per annum (TPA) from the initial 0.3 million TPA at a cost of Rs 1,350 crore.
JSW Steel, vice chairman and managing director, Sajjan Jindal told a press a conference here on Monday that the Siscol plans to use the iron ore available in Salem and Thiruvannamalai districts. It will establish a benefication plant at a cost of Rs 400 crore, which is expected to generate direct and indirect employment for about 3,000 persons. Mr Jindal met Tamil Nadu chief minister M Karunanidhi at the state secretariat on Monday evening. State ministers and senior officials from the government were also present.
Mr Jindal said the group also plans to increase Siscol capacity to 2 million TPA at an investment of about Rs 3,000 crore on availability of iron ore in the state.
In addition, Siscol also intends setting up a 1 million TPA slag grinding unit near Mettur at an estimated investment of Rs 125 crore. This will generate additional direct and indirect employment to 1,000 people.
The group is also looking at a possible opportunity for setting up a 1,000MW power plant in the state at an investment of Rs 4,000 crore. “Our plan, envisaging investment of over Rs 7,500 crore will result to creating direct and indirect employment for about 10,000 persons,” Mr Jindal said.
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He hinted that Ennore, near Chennai, could be the possible location for the proposed power plant.
JSW Energy, which is in the process of implementing power projects across the country, is likely to come out with an IPO to mop up around Rs 4,000 crore from the public.
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