Sajjan Jindal, the Vice-Chairman and Managing Director of JSW Steel, said here on Monday that the group was working towards commencing the project at Salboni in West Bengal within the next six months with a completion schedule of 30 months for the first phase involving an investment of about Rs. 12,000 crore.
JFE Steel Corporation of Japan is likely to pick up a stake varying between 26 per cent and 40 per cent in the project.
Talking to the media after an hour’s meeting with West Bengal Chief Minister Buddhadeb Bhattacharjee at the Secretariat, he shared his concerns on the law and order position in the project area (which is just 50 km from the Maoist-stronghold of Lalgarh in Paschim Medinipur). He, however, said that Mr. Bhattacharjee had given assurance that law and order in that area would improve. The Chief Minister felt that six months was a long time, Mr. Jindal said. Mr. Jindal said that work on the 800 MW power plant at Ichhapur (near the coal mines) would start simultaneouslyinvolving an investment of another Rs. 800-1,000 crore. He said local people would be trained for getting employment in the project.
