JSW Steel Vice Chairman and Managing Director Sajjan Jindal said in Kolkata on Monday that the group would commence its project at Salboni in West Bengal in the next six months. It would complete the first phase in 30 months, investing Rs.12,000 crore, Hindu Business Line has reported.
(JFE Steel Corporation of Japan is likely to have a stake of between 26% and 40% in the project.)
Jindal said this after meeting West Bengal Chief Minister Buddhadeb Bhattacharjee and shared his concerns on the law-and-order position in the project area, 50 km from the Maoist-stronghold of Lalgarh in Paschim Medinipur.
Jindal said the work on the 800-MW power plant at Ichhapur (near the coal mines) would commence simultaneously, involving an investment of Rs.800-1,000 crore. He assured that local people would be employed.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.