JSW to invest Rs 10,000 cr for a plant in WB

KOLKATA: JSW Steel on Friday formalised plans to invest Rs 10,000 crore in a mega steel plant in West Bengal. It will also invest an undisclosed sum in a 600 mw captive power station in the state. On Friday, JSW Steel vice-chairman Sajjan Jindal gave assurances to West Bengal chief minister Buddhadeb Bhattacharjee that the company would ink a memorandum of agreement (MoA) on January 11 for setting up the mega steel plant and captive power station at Salboni in the West Midnapore district.

Shortly after his meeting with the JSW vice-chairman, Mr Bhattacharjee told reporters: “The Jindals will invest Rs 10,000 crore in their proposed steel venture in the state. At least 10,000 people will be employed directly and indirectly in the steel and power projects.”

The capacity of the steel plant will be 3 million tons while the captive power unit will initially generate 600 mw. The capacity of the captive power station is proposed to be scaled up to 1000 mw.

Asked whether Trinamool Congress’ agitation over Singur would send any wrong signals to the industry lobby, Mr Jindal who was with the CM at Writers Buildings said: “I don’t think so. West Bengal is still considered as the best destination for investment.”

He added that they will require about 5,000 acres for their projects. “Land will not be a problem as we are setting up projects at the invitation of the state government. Moreover, the land earmarked for our project at Salboni is waste land and will not pose any problems either for the government or for us to set up the projects,” Mr Jindal asserted.