JSW readies Rs 700 cr for Salboni cement unit

Sajjan Jindal-controlled JSW group on Thursday said it will be investing Rs 700 crore in setting up a 2.4-million tonne cement-grinding unit at Salboni of West Midnapore district. JSW group Chairman Sajjan Jindal said the group has decided on a cement unit at Salboni where a 10-mt steel plant was earlier planned. The group has cement capacity of six million tonnes.

Speaking after receiving the steel icon award from state chambers' body BCCI, Jindal said the company wants to have some activity at Salboni as the steel project is delayed. JSW has about 4,000 acres in its possession. JSW Group Affairs Head Biswadip Gupta said the group wants 134 acres re-assigned from JSW Bengal steel to a group company for which it has applied for.

Jindal expects the foundation stone-laying ceremony in the first week of January 2016 in the presence of the West Bengal Chief Minister and hoped that "by that time, all clearances will be in place". Construction of the plant will take 12 months to commence, he added. Gupta said raw material linkage for the grinding unit had been finalised.

After the cement plant, a 300-mw captive power plant will be built at a cost of Rs 2,000 crore, Jindal let out.