India’s Jayaswal Neco Industries Limited (JNIL) has signed a memorandum of understanding (MoU) with the government of the western state of Maharashtra to set up a 2 million mt per year integrated steel plant, the company said in a statement on Wednesday, January 28.
The company said that an investment of around $11.24 billion would be riding on the project to be located at the Gadchiroli iron ore belt in the state.
The MoU was signed by the company with a representative of the state government at the recent World Economic Forum (WEF) in Davos.
The Maharashtra government will facilitate obtaining the necessary permissions, registrations, approvals, clearances and fiscal incentives as per existing regulations and policy, JNIL said.
