The Telegraph reported that the Bengal government has asked the Jindals to formally inform the WBIDC when the company can start work on the Salboni steel and power project.

The government said it had met all commitments by providing land, water and coal mines and sought a written assurance.

The state said the company must clarify when it can tie up loans.

The state may agree to give some time to the company to secure loans after tying up iron ore but it is keen to have a clear road map. The state wants the exact timeline to be included into the development agreement signed in 2007. The pact will now have clear deliverables for both parties and default clauses.

Jindal representatives met officials of the West Bengal Industrial Development Corporation and the commerce and industry departments to discuss the INR 35,000 crore projects. The promoter said it is difficult to set a specific date now as banks were unwilling to provide loans based on the existing arrangement to get ore from Orissa.

(Sourced from www.telegraphindia.com)