MoA for Jindal steel plant in Bengal on January eleven

Kolkata, Dec 22 (UNI) The Sajjan Jindal group is likely to sign a Memorandum of Agreement (MoA) with the West Bengal Government on January eleven for a 10-million ton integrated steel plant at Salboni in West Midnapore district involving an initial investment of Rs 10,000 crore.

" This will be the largest steel plant in the country integrating the manufacturing unit, blast furnace and a 600 MW captive power plant. In the first phase there will be a production of three million ton, " group Chairman Sajjan Jindal told reporters after a meeting with Chief Minister Buddhadeb Bhattacharjee at the Writers' Buildings.

This was the third round of meeting the Jindals had with the Chief Minister for their ambitious project at Salboni on Jharkhand border, adding another feather to the cap of Chief Minisater Buddhadeb Bhattacharjee.

The land for the project, to be provided by the state Government, had already been earmarked.

Mr Jindal said he was hoping to start work before monsoon and complete it within 36 months.

The project would generate direct and indirect employment to about 10,000 people, he said.

Mr Jindal said the company would buy iron ore from the market and import part of the coal required.

To a question on whether the uproar over the Tata Motors' small car factory at Singur could cast a spell on the proposed steel project, Mr Jindal said there would be no negative impact on industrialisation in the state.

" West Bengal is now one of the best industrial destinations in the country, " he said.

The Jindals' project would probably add another feather to the cap of the Chief Minister, especially after the prospect for setting up of a steel plant by late Mr Omprakash Jindal at Kharagpur skittled out when the Jharkhand Government refused to give iron ore.

However, the Jindal scion came up with a fresh proposal after the seventh Left Front Government regained power.

UNI KDG SJC DB1841