JSW Group to invest over 1,00,000 crore in eastern India

Kolkata, Jan 25 (UNI) JSW Group would invest more than Rs 1,00,000 crore in different projects in eastern India in the next five to seven years, Vice-Chairman and Managing Director Sajjan Jindal said today.

Talking to mediapersons during the signing of an MoU between JSoft Solutions Ltd, a company under the JSW Group, and Descon Ltd, Mr Jindal said the company had various investment proposals for Chattishgarh, Orissa, Jharkhand and Bihar besides the 10 million MT steel plant in West Bengal with an investment of Rs 35,000 crores.

In order to support these investments in the area of Auto CADD related work and various other design engineering services, JSoft Solutions Ltd and Descon Ltd signed a Memorandum of Understanding (MoU) during the day for sharing the resources and execution of software projects as well as IT solution mapping for the energy sector.

The revenue expected to be generated on this tie up is expected to be around Rs 50 crore per annum for the next ten years.

Under the agreement, Descon in conjunction with JSoft will set up Steel Detailing Centre to take up projects on this domain.

In addition to the above, Descon and JSoft will also work together in voice and non-voice based BPO business.

As per the MoU, Descon will also engage towards hiring of professional personnel according to the requirements of JSoft and those that will be required for development centres to be created by both the companies.

UNI ADG KK RN1824