The West Bengal Government has signed memoranda of agreement (MoA) with Videocon Industries and Jai Balaji Industries for the setting up of steel and power plants, with a total investment of Rs.31,000 crore.

The MoA envisages setting up of a three million tpa integrated steel plant and a 1,200 MW power plant in the Asansol-Durgapur region of Burdwan district. The total investment for the steel and power plant has been estimated to cost around Rs.15,000 crore. The investment will be made through a special purpose vehicle of the Videocon group and a US-based partner will be roped in for the project even as the plant will manufacture special grade and value added steel products. The project will be spread over 3,500 acres of land and will provide direct and indirect employment to around 10,000 people.

Jai Balaji Group of Industries has also proposed to set up a five million tpa integrated steel plant along with a 1,215 MW captive power plant in Purulia district, at an estimated investment of Rs.16,000 crore. A cement plant of three million tpa capacity will also be set up. The proposed cement plant will use waste products such as fly ash from the captive power plant. The steel and power project will be spread over 4,000 acres of land and will include a township that will be spread over 500 acres.

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Jai Balaji plans steel, cement plant in West Bengal (06-Sep-07)