The 10 million tonne steel plant of JSW Bengal Steel, inaugurated by Chief Minister Buddhadeb Bhattacharjee, will involve a capital outlay of Rs 35,000 crore, ensuring employment opportunity to 20,000 people. Though initially only a pellet and beneficiating plant are coming up, the Salboni plant will be able to produce three million tonnes of steel by 2012.
The plant, enjoying the largest ever investment in a project in West Bengal, will produce six million tonne steel by 2015 and the figure would reach 10 million tonnes by 2020.
JSW Bengal Steel is promoted by JSW Steel Limited which holds 89 per cent of the equity capital while the rest 11 per cent is owned by the state government.
The development agreement for the project was signed between the state government and JSW Steel Limited in January 2007.
Speaking at the function, Mr Sajjan Jindal, Chairman, JSW Bengal Steel, said, ''It is a proud moment for us as work on the country's largest steel project commenced here today. We acknowledge the unstinted support and cooperation received from the state government.
''We remain committed to the industrialisation of the state and this plant will be a showcase for the state. We are also committed to making Salboni a thriving township of which all of us will be proud,'' he added.
Mr Jindal informed that his company has designed and implemented a unique compensation package based on the principle of inclusive growth through trust and dignity. Constant dialogue with local village leaders and all stakeholders has ensured cent per cent compliance.
The Chief Minister, while laying the foundation stone of the mega project, observed, ''There is no alternative to industrialisation.
We give equal importance to agriculture and industry which should go hand in hand. The launching of the country's largest steel project in Salboni signals our sincerity and commitment to the cause.'' Steel Minister Ram Vilas Paswan, Minister of State for Steel Jitin Prasad and state Industry Minister Nirupam Sen were among others present on the occasion.