JSW Steel said it is working with NMDC to sign an agreement for sourcing iron ore for its plant at Salboni in West Bengal.

Mr Sajjan Jindal vice CMD of JSW Steel said that “We are working with NMDC to sign an agreement (for supply of iron ore) for the project and requested the state government to take up the issue with the Centre.”

Mr Jindal who was attending the ‘Bengal Leads 2012′ summit said that he could not give any real date by when construction for the project would start.

When asked about JSW steel’s Salboni project, state industry minister Mr Partha Chatterjee said all formalities regarding land for the project had been cleared and that now the ball is in their court.

Mr Chatterjee said JSW Bengal Steel was facing problem of iron ore linkage for their Salboni project. He however added that the company has completed the financial closure for the project and IDBI bank would provide them loan.

Mr Jindal led company had entered into a development agreement with the state government in 2007 to construct a 10 million tonne per annum steel making capacity at a cost of INR 35,000 crore in the first phase. In the first phase, the plant will have a capacity of 3 million tonnes.

(Sourced from PTI)