Jindal to build steel plant in Jharkhand

Jindal to build steel plant in Jharkhand

Indian steel producer Jindal Steel and Power Ltd (JSPL) yesterday signed a memorandum of understanding with India's Jharkhand state to build a five million-ton steel plant in the state with an investment of Rupees 115 billion ($2.6 billion). The proposed plant will be established on a 3'000 acre-site. The mining lease requirement will be based on the proposed plant's requirement for 30 years of operation. The plant will provide direct employment of 4'500 - 5'500 people and contribute to the state's education, health and infrastructure development as well.