JSW Bengal To Commence Steel Plant Construction From Nov 2
Wednesday, Sep 24, 2008
JSW Bengal Steel is planning to lay the foundation stone of its Rs.35,000 crores integrated steel plant at Salboni in West Midnapur on November 2, according to media reports.
JSW Bengal Steel Joint-Chief Executive Officer and Managing Director, Biswadip Gupta, said the construction would begin without any delay to meet the deadlines.
Gupta reportedly said that the company has completed the financial closure of the first part of first phase steel plant of Rs.4,000 crores with State Bank of India, adding that the project is being implemented at a debt equity ratio of 2:1.
Gupta further stated that the company has obtained the requisite clearances, including sourcing of water from Rupnarayan river for the project. The first phase of 3 million tonne steel plant with a captive power plant would be operational from 2011-12. The plant is expandable to 10 million tonnes in phases.
The company is also anticipating getting the SEZ status for the project from the Commerce Ministry.
Source: RTT News
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