JSW Steel says Salboni project still has top priority

Tuesday, 23 August 2011 16:58:25 (GMT+2)

Indian steelmaker JSW Steel has announced that it is still committed to the 10 million mt integrated steel and associated power plant projects in Salboni, Paschim Medinipur, following media reports stating that the West Bengal government is vesting 270 acres of the land purchased by JSW Steel. The company stated that the project in question still has top priority.

According to the JSW Steel statement, the total investment in the first phase of the project is forecasted to be INR 350 billion ($7.6 billion) and the company will be investing INR 200 billion ($4.3 billion) including the investments in power stations and coal mines.
 
JSW Steel also said that all the requirements such as environmental clearances, statutory approvals, geological exploration of coal mines, water pipeline approvals and railway clearances are in place.

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