Web Sify
Follow us on
Mail
Print

JSW steel working on agreement with NMDC for sourcing iron ore

Source : PTI
Last Updated: Mon, Jan 09, 2012 16:45 hrs
JSW Steel price increase partial, may resort to more

Kolkata: JSW Steel today said it is working with NMDC to sign an agreement for sourcing iron ore for its plant at Salboni in West Bengal.

"We are working with NMDC to sign an agreement (for supply of iron ore) for the project and requested the state government to take up the issue with the Centre," JSW steel Vice-Chairman and Managing Director Sajjan Jindal told reporters here.

Jindal, who was attending the 'Bengal Leads 2012' summit, however, said that he could not give any "real date" by when construction for the project would start.

When asked about JSW steel's Salboni project, state Industry Minister Partha Chatterjee said all formalities regarding land for the project had been cleared and that now the "ball is in their court".

Chatterjee said JSW Bengal Steel was facing problem of iron ore linkage for their Salboni project. He however added that the company has completed the financial closure for the project and IDBI bank would provide them loan.

The company would also set up a 250-bed hospital in the area of the proposed plant, he said.

The Sajjan Jindal-led company had entered into a development agreement with the state government in 2007 to construct a 10 million tonne per annum (MTPA) steel-making capacity at a cost of Rs 35,000 crore in the first phase.

In the first phase, the plant will have a capacity of three million tonnes.




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance