JSW to construct plant in Jharkhand
India's JSW Steel Ltd., part of
Jindal Group, inked a memorandum of understanding with the government of Jharkhand province to set up a steel plant with an annual capacity of 10 million metric tons.
JSW will invest Rupees 350 billion ($7.65 billion) in the plant, which is expected to become operation within the next six years. Jharkhand province is home to vast raw material sources that the plant will be able to utilize.