Sajjan Jindal's JSW Group will invest Rs 10,000 crore in Salboni, West Bengal, in the next five to seven years. The company will set up a power plant, a cement plant and a paint factory at the facility.
West Bengal Chief Minister Mamta Banerjee on Wednesday inaugurated the construction of the Rs 800 crore cement project at Salboni, one of the state's most backward regions. The cement project is expected to generate 250 permanent and 600 contract-based jobs.
"The cement project would be operational in next one year. The JSW group plans to expand it to 4.8 million tonnes in the next 36 months" The Economic Times quoted Sajjan Jindal, Managing Director of JSW group of companies, as saying.
The company said it would invest Rs 8,000 crore to set up a power plant in the town and the remaining Rs 1,000 in a paint factory.
"West Bengal is likely to emerge as a bastion of the JSW group. We are drawing up plans to double the capacity of the Salboni plant. This is part of JSW cement's larger plans to add another 10 metric tonnes of capacity in the next two years at an investment of Rs 2,000 crore," said Parth Jindal, heir to the JSW throne.
In 2008, JSW group had acquired 4,000 acres of land in the state with a plan to set up a 10 million tonne steel plant, but abandoned the project midway after failing to procure raw materials required to operate the plant.
Happy to announce the foundation stone laying of 2.4Mt cement plant for JSW Cement at Salboni. pic.twitter.com/aNwd2Q8jwW
â€” Sajjan Jindal (@sajjanjindal59) January 6, 2016