JSW group to invest nearly Rs 50,000 crore in West Bengal
The investment will target the power, ports, cement and power equipment sectors following a meeting between Sajjan Jindal and Chief Minister Suvendu Adhikari.
The JSW group plans to invest close to Rs 50,000 crore in West Bengal across the power, power equipment, port and cement sectors, according to Telegraph India.
JSW group chairman and managing director Sajjan Jindal announced the investment after meeting Chief Minister Suvendu Adhikari in Calcutta on Wednesday.
A significant portion of the funds is expected to go towards mega thermal power plants at Salboni in West Midnapore district. The group previously announced a Rs 16,000 crore investment for a 1600 megawatt coal-fired plant, but 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.
Sajjan Jindal told Telegraph India that the new chief minister is very supportive and positive regarding investments in the state. A statement from JSW said Adhikari and Jindal discussed opportunities in power, power systems, ports, cement and steel.
Chief Minister Adhikari said the JSW group will perform the bhumipuja of its second power plant unit in January, an event where he will be present.