September 08, 2008

JSW Bengal Steel to seek SEZ status for Salboni plant

PTI reported that JSW Bengal Steel will seek special economic zone status for its 5,000 acre steel plant to be coming up at Salboni in West Bengal.

Mr Biswadip Gupta MD of JSW Bengal Steel said that in house discussions were on for seeking SEZ status for the plant with an annual production capacity of 3 million tonnes.

He added that initially, the installed capacity of the plant would be 3 million tonnes a year, involving a cost of INR 10,000 crore. Later, it would be ramped up to 10 million tonnes at an outlay of INR 35,000 crore and 35% of the products would be exported.

The foundation stone of the plant was expected to be laid in November 2007. It is noted that 90% of the land was being given by the state government and the remaining was being purchased directly from the locals.