Will create employment opportunity for 10,000 people
JSW Aluminium plans alumina plant
JSW Energy to raise Rs. 3,000-5,000 cr.
from the market
CHENNAI: JSW Group, a part of O. P. Jindal Group, plans to invest Rs. 7,525 crore in Tamil Nadu in the next three years in four different projects. The investment would create employment opportunity for 10,000 people directly and indirectly.
The first project will be to use the iron ore available at Kanjamalai in Salem and Thiruvannamalai districts by putting up mining and beneficiation plants at an outlay of Rs. 400 crore.
The second project involves doubling of its steel making capacity at the existing SISCOL steel plant to two million tonnes at an investment of Rs. 3,000 crore as soon as iron ore production from the two mines commences.
The third project will be to set up a one-million tonne slag grinding plant at the existing SISCOL plant costing Rs. 125 crore.
The fourth investment will be in the power sector. It is also contemplating a 1,000 MW power plant with an outlay of Rs. 4,000 crore.
The company would start mining operations on 640 hectares if it gets all the approvals from the State and Central governments, said Sajjan Jindal, Vice-Chairman and Managing Director, JSW Steel, at a press conference here on Monday.
JSW Energy, a subsidiary of the JSW Group, is planning to put up a power plant in Tamil Nadu. The project will be based on both merchandise and PPA model. Since the project being coal-based, the company will preferably set up the plant near a port, he said.
He said the company was constructing power plants for 3,000 MW across the country. It was, at present, discussing with a few states such as Andhra Pradesh, Karnataka, Orissa and West Bengal. By 2015, the company would have power plants all over the country with a total capacity of 15,000 MW.
JSW Energy is planning to tap the capital market in another four months for funding the energy projects. It planned to raise over Rs. 3,000-5,000 crore.
JSW Cement is in the process of identifying limestone mines at Salem in Tamil Nadu to set up a grinding unit with a capacity of four lakh tonnes. It is setting up one unit each with a capacity of two million tonnes and three million tonnes respectively, in Andhra Pradesh and Karnataka using fly ash.
JSW Aluminium is having plans to set up an alumina plant in the first phase with a capacity of 1.6 million tonnes at Visakhapatnam in Andhra Pradesh. It would have an investment of Rs. 4,000 crore. In the second phase, it would set up a 2.5 lakh tonne aluminium plant at a cost of Rs. 8,000 crore.
The group has two subsidiaries — South West Port Ltd and JSW Infrastructure and Logistic Co. Ltd. These companies are involved in setting up a port in Goa with an investment of Rs. 350 crore and a special economic zone in Maharastra with an outlay of Rs. 650 crore.
The JSW Group has planned to invest nearly Rs. 40,000 crore in all its projects across the country. Of this Rs. 25,000 crore would be through debt and the balance through equity.