JSW group to invest up to Rs 50,000 crore in Bengal
Chairman Sajjan Jindal confirmed the investment across the power, ports and cement sectors following a meeting with Chief Minister Suvendu Adhikari.
The JSW group will invest close to Rs 50,000 crore in West Bengal across the power, power equipment, port and cement sectors, according to The Telegraph India.
Chairman and Managing Director Sajjan Jindal announced the plans in Calcutta on Wednesday after meeting Chief Minister Suvendu Adhikari. Jindal told The Telegraph that the new chief minister is very supportive and positive regarding investments in the state.
A large portion of the investment is expected to go towards mega thermal power plants at Salboni in the West Midnapore district. While the group previously announced a Rs 16,000 crore investment for a 1600 megawatt coal-fired plant, the Salboni unit will now include another 1600 megawatt unit, more than doubling that investment.
Additionally, JSW Infrastructure is investing Rs 1,500 crore to expand and modernise the port facility at the Kolkata dock system. The Mumbai-based conglomerate also operates a cement plant and a steel unit in the state.
Chief Minister Adhikari stated that the JSW group will perform the bhumipuja for its second power plant unit in January, an event where he will be present.