India’s Jindal Steel Chhattisgarh Limited (JSCL), an arm of Jindal Steel Limited (JSL), has signed a memorandum of understanding (MoU) with the state government of Chhattisgarh committing to an investment to the tune of $12.13 billion in multiple projects including an integrated steel mill and thermal and solar power plants, government officials said on Tuesday, July 29.
JSCL will construct a 7.5 million mt per year capacity greenfield steel mill in the eastern state, entailing an investment of around $8.4 billion while the balance of the capex will be spent on the setting up of three thermal power plants generating 800 MW each and solar power plants generating 500 MW, the officials said.
The investments are aimed at driving the economic growth of Chhattisgarh by generating employment and fostering sustainable industry development, they added.