JSW signs MoU to build 10m tpy plant in Jharkhand

摘要

MUMBAI -- Jindal South West Steel (JSW Steel), part of India's Jindal group, signed a Memorandum of Understanding (MoU) on November 9 with the government of Jharkhand to build a 10 million tpy greenfield steel plant in the state at a cost of Rs350 billion (7.65 billion dollars). This is the fifth proposed large steel project in the state. Mittal Steel and Tata Steel are each set to install 12 million tpy plants, Essar Steel will build a 10 million tpy plant, while Jindal Steel & Power is set to build a 5 million tpy steelworks. The Jharkhand government has signed 38 MoUs for plants that, if implemented, will produce a total of 72 million tpy of steel and require more than Rs2,500 billion in investment, according to reports. The JSW plant is due to start up in 2010 or, failing that, 2012 at the latest.