Ch'garh: Jai Balaji inks MoU to set up 600 MW project

Chhattisgarh, Sep 29: Jai Balaji Industries Ltd, the flagship company of the Jai Balaji Group, today said it has signed a Memorandum of Understanding (MoU) with the Chhattisgarh Government for setting up a 600 MW thermal power project in the State.

However, the Kolkata-based steel manufacturing company did not divulge any financial details of the deal.

The company has a chain of value-added products which include sponge iron, pig iron, reinforcement steel TMT bars, alloy and mild steel ingots and wire rods.

In the first quarter of the current fiscal, it registered a 100 per cent increase in its net profit at Rs 46 crore compared to Rs 23 crore in the corresponding period last quarter.

UNI